82 FR 18067 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To Amend Commentary .01 and Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3) To Provide for the Inclusion of Cash in an Index Underlying a Series of Investment Company Units
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 71 (April 14, 2017)
Federal Register Volume 82, Issue 71 (April 14, 2017)
| Page Range | 18067-18070 | |
| FR Document | 2017-07528 |
[Federal Register Volume 82, Number 71 (Friday, April 14, 2017)] [Notices] [Pages 18067-18070] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-07528] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-80415; File No. SR-NYSEArca-2017-30] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To Amend Commentary .01 and Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3) To Provide for the Inclusion of Cash in an Index Underlying a Series of Investment Company Units April 10, 2017. 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 March 29, 2017, 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. --------------------------------------------------------------------------- [[Page 18068]] I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend Commentary .01 and Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3) to provide for the inclusion of cash in an index underlying a series of Investment Company Units. The proposed 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. 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 Commentary .01 and Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3) to provide for the inclusion of cash in an index underlying a series of Investment Company Units (``Units'').\4\ NYSE Arca Equities Rule 5.2(j)(3) provides ``generic'' criteria permitting listing and trading of Units pursuant to Rule 19b- 4(e) under the Act \5\ when the underlying index or portfolio satisfies the criteria set forth in NYSE Arca Equities Rule 5.2(j)(3). --------------------------------------------------------------------------- \4\ Investment Company Units are securities that represent interests in a unit investment trust, an open-end management investment company securities or a similar entity registered under the investment Company Act of 1940 (15 U.S.C. 80a-1). A series of Investment Company Units seeks to provide investment results that correspond generally to the price and yield performance of a specific foreign or domestic stock index, fixed income securities index or combination thereof. \5\ 17 CFR 240.19b-4(e). --------------------------------------------------------------------------- The Exchange understands that certain index providers have included, or intend to include, cash as a component in indexes that also include equity or fixed income securities components. An index provider may, for example, provide a certain index weighting allocation to cash or may periodically change an allocation to cash based on the index provider's assessment of market risk associated with other asset classes in the applicable index.\6\ --------------------------------------------------------------------------- \6\ The Exchange notes that shares of the following exchange- traded funds based on indexes that include cash as a component are currently listed and traded on the BATS BZX Exchange, Inc.: QuantX Risk Managed Growth ETF; QuantX Risk Managed Multi-Asset Income ETF; QuantX Risk Managed Multi-Asset Total Return ETF; and QuantX Risk Managed Real Return ETF. --------------------------------------------------------------------------- Accordingly, the Exchange proposes to amend Commentaries .01 and .02 to permit listing and trading of Units based on an index or portfolio that includes cash as a component. While Units, like mutual funds, will generally hold an amount of cash, NYSE Arca Equities Rule 5.2(j)(3) currently provides that components of an index or portfolio underlying a series of Units consist of securities--namely, U.S. Component Stocks, Non-U.S. Component Stocks, Fixed Income Securities or a combination thereof. As described below, the proposed amendments to Commentary .01 and Commentary .02 to Rule 5.2(j)(3)would permit inclusion of cash as an index or portfolio component. Currently, Commentary .01(a)(A) provides that an underlying index or portfolio of U.S. Component Stocks \7\ must meet specified criteria. The Exchange proposes to amend Commentary .01(a)(A) to provide that the components of an index or portfolio underlying a series of Units may also include cash. In addition, the percentage weighting criteria in Commentary .01(a)(A)(1) through (4) each would be amended to make clear that such criteria would be applied only to the U.S. Component Stocks portion of an index or portfolio. For example, in applying the criteria in proposed Commentary .01(a)(A)(1),\8\ if 85% of the weight of an index consists of U.S. Component Stocks and 15% of the index weight is cash, the requirement that component stocks accounting for 90% of the weight of the index or portfolio have a minimum market value of $75 million minimum would be applied only to the 85% portion consisting of U.S. Component Stocks. --------------------------------------------------------------------------- \7\ Rule 5.2(j)(3) defines ``U.S. Component Stock'' as an equity security that is registered under Sections 12(b) or 12(g) of the Act or an American Depositary Receipt, the underlying equity security of which is registered under Sections 12(b) or 12(g) of the Act. \8\ Proposed Commentary .01(a)(A)(1) would provide that component stocks (excluding Units and Derivative Securities Products) that in the aggregate account for at least 90% of the weight of the U.S. Component Stocks portion of the index or portfolio (excluding such Derivative Securities Products) each shall have a minimum market value of at least $75 million. --------------------------------------------------------------------------- Commentary .01(a)(B), which relates to international or global indexes or portfolios, would be amended to provide that components of an index or portfolio underlying a series of Units may consist of (a) only Non-U.S. Component Stocks, (b) Non-U.S. Component Stocks and cash, (c) both U.S. Component Stocks and Non-U.S. Component Stocks, or (d) U.S. Component Stocks, Non-U.S. Component Stocks and cash. In addition, the percentage weighting criteria in Commentary .01(a)(B)(1) through (4) each would be amended to make clear that such criteria would be applied only to the combined U.S. and Non-U.S. Component Stocks portions of an index or portfolio. Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3) provides generic criteria applicable to listing and trading of Units whose underlying index or portfolio includes Fixed Income Securities.\9\ Currently, Commentary .02(a)(1) provides that an underlying index or portfolio must consist of Fixed Income Securities. The Exchange proposes to amend Commentary .02(a)(1) to provide that the index or portfolio may also include cash. In addition, the percentage weighting criteria in Commentary .02(a)(2), (a)(4) and (a)(6) each would be amended to make clear that such criteria would be applied only to the Fixed Income Securities portion of an index or portfolio. For example, in applying the criteria in proposed Commentary .01(a)(2),\10\ if 90% of the weight of an index or portfolio consists of Fixed Income Securities and 10% of the index weight is cash, the requirement that Fixed Income Securities accounting for at least 75% of the weight of the index or portfolio have a minimum original principal amount outstanding of $100 million would be applied only to the 90% portion consisting of Fixed Income Securities. --------------------------------------------------------------------------- \9\ As defined in Commentary .02 to NYSE Arca Equities Rule 5.2(j)(3), Fixed Income Securities are debt securities that are notes, bonds, debentures or evidence of indebtedness that include, but are not limited to, U.S. Department of Treasury securities (``Treasury Securities''), government-sponsored entity securities (``GSE Securities''), municipal securities, trust preferred securities, supranational debt and debt of a foreign country or a subdivision thereof. \10\ Proposed Commentary .01(a)(2) would provide that Fixed Income Security components that in aggregate account for at least 75% of the Fixed Income Securities portion of the weight of the index or portfolio each shall have a minimum original principal amount outstanding of $100 million or more. --------------------------------------------------------------------------- The Exchange notes that the Commission has previously approved Exchange rules allowing portfolios held by issues of Managed Fund Shares [[Page 18069]] (actively-managed exchange-traded funds) under Commentary .01 to NYSE Arca Equities Rule 8.600 to include cash.\11\ Like the provision in Commentary .01(c) to Rule 8.600, which states that there is no limit to cash holdings by an issue of Managed Fund Shares listed under Commentary .01 to Rule 8.600, there is no proposed limit to the weighting of cash in an index underlying a series of Units. The Exchange believes this is appropriate in that cash does not, in itself, impose investment or market risk. --------------------------------------------------------------------------- \11\ See Commentary .01(c) to NYSE Arca Equities Rule 8.600. --------------------------------------------------------------------------- The Exchange believes the proposed amendments, by permitting inclusion of cash as a component of indexes underlying series of Units, would provide issuers of Units with additional choice in indexes permitted to underlie Units that are permitted to list and trade on the Exchange pursuant to the Rule 19b-4(e), which would enhance competition among market participants, to the benefit of investors and the marketplace. In addition, the proposed amendments would provide investors with greater ability to hold Units based on underlying indexes that may accord more closely with an investor's assessment of market risk, in that some investors may view cash as a desirable component of an underlying index under certain market conditions. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\12\ in general, and furthers the objectives of Sections 6(b)(5) of the Act,\13\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange has in place surveillance procedures that are adequate to properly monitor trading in Units in all trading sessions and to deter and detect violations of Exchange rules and applicable federal securities laws. The Exchange notes that, as described above, the percentage weighting criteria in Commentary .01(a)(B)(1) through (4) to Rule 5.2(j)(3) each would be amended to make clear that such criteria would be applied only to the combined U.S. and Non-U.S. Component Stocks portions of an index or portfolio. The percentage weighting criteria in Commentary .02(a)(2), (a)(4) and (a)(6) to Rule 5.2(j)(3) each would be amended to make clear that such criteria would be applied only to the Fixed Income Securities portion of an index or portfolio. Such applications of the proposed amendments would assure that the weighting requirements in Commentary .01 and Commentary .02 would continue to be applied only to securities in an index or portfolio, and would not be diluted as a result of inclusion of a cash component. In addition, the addition of cash as a permitted component of indexes underlying Units listed and traded on the Exchange pursuant to Rule 19b-4(e) does not raise regulatory issues because cash does not, in itself, impose investment or market risk and is not susceptible to manipulation. The Exchange believes the proposed amendments, by permitting inclusion of cash as a component of indexes underlying series of Units, would provide issuers of Units with additional choice in indexes permitted to underlie Units that are permitted to list and trade on the Exchange pursuant to the Rule 19b-4(e), which would enhance competition among market participants, to the benefit of investors and the marketplace. In addition, the proposed amendments would provide investors with greater ability to hold Units based on underlying indexes that may accord more closely with an investor's assessment of market risk. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\14\ the Exchange believes that the proposed rule change would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change would permit Exchange listing and trading under Rule 19b-4(e) of Units based on indexes that include cash as a component, which would enhance competition among market participants, to the benefit of investors and the marketplace. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- 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 Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (a) By order approve or disapprove such proposed rule change; or (b) institute proceedings to determine whether the proposed rule change should be 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 CommentsUse 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-2017-30 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSEArca-2017-30. 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 [[Page 18070]] 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-2017-30, and should be submitted on or before May 5, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-07528 Filed 4-13-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 71 / Friday, April 14, 2017 / Notices 18067
mechanism of a free and open market C. Self-Regulatory Organization’s public in accordance with the
and a national market system and, in Statement on Comments on the provisions of 5 U.S.C. 552, will be
general, protect investors and the public Proposed Rule Change Received From available for Web site viewing and
interest because the changes would Members, Participants, or Others printing in the Commission’s Public
eliminate obsolete references, thereby No written comments were solicited Reference Room, 100 F Street NE.,
reducing potential confusion. Market or received with respect to the proposed Washington, DC 20549 on official
participants and investors would not be rule change. business days between the hours of
harmed and in fact could benefit from 10:00 a.m. and 3:00 p.m. Copies of the
the increased clarity and transparency III. Date of Effectiveness of the filing also will be available for
in the ICE Certificate and ICE Bylaws. Proposed Rule Change and Timing for
inspection and copying at the principal
Commission Action
Such increased clarity and transparency office of the Exchange. All comments
would ensure that persons subject to the Within 45 days of the date of received will be posted without change;
Exchange’s jurisdiction, regulators, and publication of this notice in the Federal the Commission does not edit personal
the investing public can more easily Register or up to 90 days (i) as the identifying information from
navigate and understand the ICE Commission may designate if it finds submissions. You should submit only
governing documents. such longer period to be appropriate information that you wish to make
and publishes its reasons for so finding available publicly. All submissions
The Exchange believes that the or (ii) as to which the self-regulatory
proposed amendments to Article II of should refer to File Number SR–
organization consents, the Commission NYSENAT–2017–01 and should be
the ICE Bylaws, regarding meetings of will:
stockholders, would also remove submitted on or before May 5, 2017.
(A) By order approve or disapprove
impediments to, and perfect the the proposed rule change, or For the Commission, by the Division of
mechanism of a free and open market (B) institute proceedings to determine Trading and Markets, pursuant to delegated
and a national market system and, in whether the proposed rule change authority.36
general, protect investors and the public should be disapproved. Eduardo A. Aleman,
interest because the changes would Assistant Secretary.
IV. Solicitation of Comments
increase the clarity of the relevant [FR Doc. 2017–07530 Filed 4–13–17; 8:45 am]
sections of Article II, thereby reducing Interested persons are invited to
BILLING CODE 8011–01–P
potential confusion. Market participants submit written data, views, and
and investors would not be harmed and arguments concerning the foregoing,
in fact could benefit from the increased including whether the proposed rule SECURITIES AND EXCHANGE
clarity and transparency regarding the change, as modified by Amendment No.
COMMISSION
location of stockholder meetings and 1, is consistent with the Act. Comments
advance notice requirements, and the may be submitted by any of the
following methods: [Release No. 34–80415; File No. SR–
conformance of the quorum NYSEArca–2017–30]
requirements with those in the ICE Electronic Comments
Certificate, and so would more easily • Use the Commission’s Internet Self-Regulatory Organizations; NYSE
navigate and understand the ICE comment form (http://www.sec.gov/ Arca, Inc.; Notice of Filing of Proposed
Bylaws. rules/sro.shtml); or Rule Change To Amend Commentary
B. Self-Regulatory Organization’s • Send an email to rule-comments@ .01 and Commentary .02 to NYSE Arca
Statement on Burden on Competition sec.gov. Please include File Number SR– Equities Rule 5.2(j)(3) To Provide for
NYSENAT–2017–01 on the subject line. the Inclusion of Cash in an Index
The Exchange does not believe that Underlying a Series of Investment
Paper Comments Company Units
the proposed rule change will impose
any burden on competition that is not • Send paper comments in triplicate
to Secretary, Securities and Exchange April 10, 2017.
necessary or appropriate in furtherance
of the purposes of the Exchange Act. Commission, 100 F Street NE., Pursuant to Section 19(b)(1) 1 of the
The proposed rule change is not Washington, DC 20549–1090. Securities Exchange Act of 1934 (the
designed to address any competitive All submissions should refer to File ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
issue but rather update and streamline Number SR–NYSENAT–2017–01. This notice is hereby given that, on March
the ICE Certificate and Bylaws, delete file number should be included on the 29, 2017, NYSE Arca, Inc. (the
obsolete or unnecessary references and subject line if email is used. To help the ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
make other simplifying or clarifying Commission process and review your the Securities and Exchange
changes to the ICE governing comments more efficiently, please use Commission (the ‘‘Commission’’) the
documents. The Exchange believes that only one method. The Commission will proposed rule change as described in
the proposed rule change will serve to post all comments on the Commission’s Items I and II below, which Items have
Internet Web site (http://www.sec.gov/ been prepared by the self-regulatory
promote clarity and consistency,
rules/sro.shtml). Copies of the organization. The Commission is
thereby reducing burdens on the
submission, all subsequent publishing this notice to solicit
marketplace and facilitating investor
amendments, all written statements
sradovich on DSK3GMQ082PROD with NOTICES
protection. The proposed rule change comments on the proposed rule change
with respect to the proposed rule
would result in no concentration or from interested persons.
change that are filed with the
other changes of ownership of Commission, and all written
exchanges. communications relating to the 36 17 CFR 200.30–3(a)(12).
proposed rule change between the 1 15 U.S.C. 78s(b)(1).
Commission and any person, other than 2 15 U.S.C. 78a.
those that may be withheld from the 3 17 CFR 240.19b–4.
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![18070 Federal Register / Vol. 82, No. 71 / Friday, April 14, 2017 / Notices
provisions of 5 U.S.C. 552, will be a draft legislative guide on a simplified ecosystems’’ and for the ‘‘IPCC Special
available for Web site viewing and business entity (UN Doc. A/CN.9/WG.I/ Report on the Ocean and Cryosphere in
printing in the Commission’s Public WP.99 and Add.1) (from May 8–9). The a Changing Climate’’ were adopted at
Reference Room, 100 F Street NE., Working Group will also consider future the 45th session of the IPCC Plenary.
Washington, DC 20549 on official work. At its first session, the Working Nominations may be submitted at
business days between the hours of Group ‘‘acknowledged and welcomed https://contribute.globalchange.gov/;
10:00 a.m. and 3:00 p.m. Copies of such the Commission’s mandate relative to additional information can be found at
filing also will be available for the establishment of an enabling legal http://www.globalchange.gov/notices.
inspection and copying at the principal environment to facilitate the life cycle of This is an Open Call. All registered
office of the Exchange. All comments MSMEs, beginning with the users can nominate U.S. citizens and
received will be posted without change; implementation of simplified rules of permanent lawful residents to be
the Commission does not edit personal registration, incorporation and considered by the IPCC Science Steering
identifying information from operation of such enterprises, in Committee (SSC). The call for
submissions. You should submit only addition to other topics such as nominations will close on May 15th,
information that you wish to make financial inclusion, including mobile 2017, and a nominations package will
available publicly. All submissions payments, access to credit, alternative be transmitted on behalf of the U.S.
should refer to File Number SR– dispute resolution and simplified IPCC Focal Point on May 17th. The SSC
NYSEArca–2017–30, and should be insolvency rules.’’ (UN Doc. A/CN.9/ will complete its work and issue
submitted on or before May 5, 2017. 800, para 66). The draft texts, along with appointment memos in late July 2017.
For the Commission, by the Division of the reports of earlier sessions of the The United Nations Environment
Trading and Markets, pursuant to delegated Working Group will be available at Programme (UNEP) and the World
authority.15 http://www.uncitral.org/uncitral/en/ Meteorological Organization (WMO)
Eduardo A. Aleman, commission/working_groups/ established the IPCC in 1988. In
Assistant Secretary. 1MSME.html. accordance with its mandate and as
[FR Doc. 2017–07528 Filed 4–13–17; 8:45 am]
Time and Place: The meeting of the reaffirmed in various decisions by the
ACPIL UNCITRAL MSME Study Group Panel, the major activity of the IPCC is
BILLING CODE 8011–01–P
will take place on Friday April 28, from to prepare comprehensive and up-to-
10 a.m. to 12:00 p.m. EDT via date assessments of policy-relevant
teleconference. scientific, technical, and socio-
DEPARTMENT OF STATE Public Participation: Those planning economic information for understanding
[Public Notice: 9961] to participate should email pil@state.gov the scientific basis of climate change,
to obtain the call-in number. potential impacts, and options for
U.S. Department of State Advisory mitigation and adaptation.
Committee on Private International Michael J. Dennis,
Law (ACPIL): Public Meeting on Attorney-Adviser, Office of Private Christopher Allison,
Micro-, Small-, and Medium Sized International Law, Office of the Legal Adviser, Director, Acting, Office of Global Change,
Department of State. Bureau of Oceans and International
Enterprises
[FR Doc. 2017–07564 Filed 4–13–17; 8:45 am] Environmental and Scientific Affairs,
The Office of the Assistant Legal BILLING CODE 4710–08–P Department of State.
Adviser for Private International Law, [FR Doc. 2017–07596 Filed 4–13–17; 8:45 am]
Department of State, hereby gives notice BILLING CODE 4710–09–P
that the Micro-, Small-, and Medium DEPARTMENT OF STATE
sized enterprises (MSMEs) study group
[Public Notice: 9924]
of the Advisory Committee on Private TENNESSEE VALLEY AUTHORITY
International Law (ACPIL) will hold a Nominations for Coordinating Lead
public meeting via teleconference. The Authors, Lead Authors, or Review Meeting of the Regional Energy
ACPIL UNCITRAL MSME Study Group Editors on the Second and Third Resource Council
will hold the teleconference meeting to Special Reports to be Undertaken by
discuss the next session of the AGENCY: Tennessee Valley Authority
the Intergovernmental Panel on
UNCITRAL Working Group I–MSME (TVA).
Climate Change During the Sixth
scheduled for May 1–9 in New York. Assessment Report (AR6) Cycle ACTION: Notice of meeting.
This is not a meeting of the full
Advisory Committee. The United States Department of SUMMARY: The TVA Regional Energy
UNCITRAL has established a working State, in cooperation with the United Resource Council (RERC) will hold a
group aimed at reducing the legal States Global Change Research Program, meeting on Tuesday, May 2 and
obstacles faced by MSMEs throughout seeks nominations for U.S. scientists Wednesday, May 3, 2017, regarding
their life cycle, and in particular those with requisite expertise to serve as regional energy related issues in the
in developing countries. UNCITRAL Coordinating Lead Authors, Lead Tennessee Valley.
further directed that the work should Authors, or Review Editors on the The RERC was established to advise
start with a focus on the legal issues second and third Special Reports to be TVA on its energy resource activities
surrounding the simplification of undertaken by the Intergovernmental and the priorities among competing
Panel on Climate Change (IPCC) during objectives and values. Notice of this
sradovich on DSK3GMQ082PROD with NOTICES
registration and incorporation. At its
upcoming session, the UNCITRAL the Sixth Assessment Report (AR6) meeting is given under the Federal
Working Group I–MSME will consider a cycle. The outlines for ‘‘Climate Change Advisory Committee Act (FACA), 5
draft legislative guide on key principles and Land: An IPCC Special Report on U.S.C. App.2.
of business registration (UN Doc. A/ climate change, desertification, land The meeting agenda includes the
CN.9/WG.I/WP.101) (from May 1–5) and degradation, sustainable land following:
management, food security, and 1. Welcome and Introductions
15 17 CFR 200.30–3(a)(12). greenhouse gas fluxes in terrestrial 2. TVA Updates
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Document Created: 2017-04-14 00:56:27
Document Modified: 2017-04-14 00:56:27
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