82 FR 21282 - ClearShares, LLC et al.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 86 (May 5, 2017)
Federal Register Volume 82, Issue 86 (May 5, 2017)
| Page Range | 21282-21284 | |
| FR Document | 2017-09065 |
[Federal Register Volume 82, Number 86 (Friday, May 5, 2017)] [Notices] [Pages 21282-21284] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-09065] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 32620; 812-14739] ClearShares, LLC et al. May 1, 2017. AGENCY: Securities and Exchange Commission (``Commission''). ACTION: Notice. ----------------------------------------------------------------------- Notice of an application for an order under section 6(c) of the Investment Company Act of 1940 (the ``Act'') for an exemption from sections 2(a)(32), 5(a)(1), 22(d), and 22(e) of the Act and rule 22c-1 under the Act, under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and 17(a)(2) of the Act, and under section 12(d)(1)(J) of the Act for an exemption from sections 12(d)(1)(A) and 12(d)(1)(B) of the Act. The requested order would permit (a) actively-managed series of certain open-end management investment companies (``Funds'') to issue shares redeemable in large aggregations only (``Creation Units''); (b) secondary market transactions in Fund shares to occur at negotiated market prices rather than at net asset value (``NAV''); (c) certain Funds to pay redemption proceeds, under certain circumstances, more than seven days after the tender of shares for redemption; (d) certain affiliated persons of a Fund to deposit securities into, and receive securities from, the Fund in connection with the purchase and redemption of Creation Units; (e) certain registered management investment companies and unit investment trusts outside of the same group of investment companies as the Funds (``Funds of Funds'') to acquire shares of the Funds; and (f) certain Funds (``Feeder Funds'') to create and redeem Creation Units in-kind in a master-feeder structure. Applicants: ETF Series Solutions (``Trust''), a Delaware statutory trust registered under the Act as an open-end management investment company with multiple series, ClearShares LLC (``ClearShares''), a Delaware limited liability company that is registered as an investment adviser under the Investment Advisers Act of 1940, and Quasar Distributors, LLC (``Distributor''), a Delaware limited liability company and broker-dealer registered under the Securities Exchange Act of 1934 (``Exchange Act''). Filing Dates: The application was filed on January 24, 2017. Hearing or Notification of Hearing: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing by writing to the Commission's Secretary and serving applicants with a copy of the request, personally or by mail. Hearing requests should be received by the Commission by 5:30 p.m. on May 26, 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. ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090; Applicants: W. John McGuire, Esq., Morgan, Lewis & Bockius, LLP, 1111 Pennsylvania Avenue NW., Washington, DC 20004-2541 and Michael D. Barolsky, Esq., U.S. Bancorp Fund Services, LLC, 615 E. Michigan Street, Milwaukee, WI 53202. FOR FURTHER INFORMATION CONTACT: Rochelle Kauffman Plesset, Senior Counsel, at (202) 551-6840 or Daniele [[Page 21283]] Marchesani, Assistant Chief Counsel, at (202) 551-6747 (Division of Investment Management, Chief Counsel's Office). SUPPLEMENTARY INFORMATION: The following is a summary of the application. The complete application may be obtained via the Commission's Web site by searching for the file number, or for an applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling (202) 551-8090. Summary of the Application 1. Applicants request an order that would allow Funds to operate as actively-managed exchange traded funds (``ETFs'').\1\ Fund shares will be purchased and redeemed at their NAV in Creation Units only. All orders to purchase Creation Units and all redemption requests will be placed by or through an ``Authorized Participant'', which will have signed a participant agreement with the Distributor. Shares will be listed and traded individually on a national securities exchange, where share prices will be based on the current bid/offer market. Certain Funds may operate as Feeder Funds in a master-feeder structure. Any order granting the requested relief would be subject to the terms and conditions stated in the application. --------------------------------------------------------------------------- \1\ Applicants request that the order apply to the new series of the Trust as well as to additional series of the Trust and any other open-end management investment company or series thereof that currently exist or that may be created in the future (each, included in the term ``Fund''), each of which will operate as an actively- managed ETF. Any Fund will (a) be advised by ClearShares or an entity controlling, controlled by, or under common control with ClearShares (each, an ``Adviser'') and (b) comply with the terms and conditions of the application. --------------------------------------------------------------------------- 2. Each Fund will consist of a portfolio of securities and other assets and investment positions (``Portfolio Instruments''). Each Fund will disclose on its Web site the identities and quantities of the Portfolio Instruments that will form the basis for the Fund's calculation of NAV at the end of the day. 3. Shares will be purchased and redeemed in Creation Units and generally on an in-kind basis. Except where the purchase or redemption will include cash under the limited circumstances specified in the application, purchasers will be required to purchase Creation Units by depositing specified instruments (``Deposit Instruments''), and shareholders redeeming their shares will receive specified instruments (``Redemption Instruments''). The Deposit Instruments and the Redemption Instruments will each correspond pro rata to the positions in the Fund's portfolio (including cash positions) except as specified in the application. 4. Because shares will not be individually redeemable, applicants request an exemption from section 5(a)(1) and section 2(a)(32) of the Act that would permit the Funds to register as open-end management investment companies and issue shares that are redeemable in Creation Units only. 5. Applicants also request an exemption from section 22(d) of the Act and rule 22c-1 under the Act as secondary market trading in shares will take place at negotiated prices, not at a current offering price described in a Fund's prospectus, and not at a price based on NAV. Applicants state that (a) secondary market trading in shares does not involve a Fund as a party and will not result in dilution of an investment in shares, and (b) to the extent different prices exist during a given trading day, or from day to day, such variances occur as a result of third-party market forces, such as supply and demand. Therefore, applicants assert that secondary market transactions in shares will not lead to discrimination or preferential treatment among purchasers. Finally, applicants represent that share market prices will be disciplined by arbitrage opportunities, which should prevent shares from trading at a material discount or premium from NAV. 6. With respect to Funds that hold non-U.S. Portfolio Instruments and that effect creations and redemptions of Creation Units in kind, applicants request relief from the requirement imposed by section 22(e) in order to allow such Funds to pay redemption proceeds within fifteen calendar days following the tender of Creation Units for redemption. Applicants assert that the requested relief would not be inconsistent with the spirit and intent of section 22(e) to prevent unreasonable, undisclosed or unforeseen delays in the actual payment of redemption proceeds. 7. Applicants request an exemption to permit Funds of Funds to acquire Fund shares beyond the limits of section 12(d)(1)(A) of the Act; and the Funds, and any principal underwriter for the Funds, and/or any broker or dealer registered under the Exchange Act, to sell shares to Funds of Funds beyond the limits of section 12(d)(1)(B) of the Act. The application's terms and conditions are designed to, among other things, help prevent any potential (i) undue influence over a Fund through control or voting power, or in connection with certain services, transactions, and underwritings, (ii) excessive layering of fees, and (iii) overly complex fund structures, which are the concerns underlying the limits in sections 12(d)(1)(A) and (B) of the Act. 8. Applicants request an exemption from sections 17(a)(1) and 17(a)(2) of the Act to permit persons that are Affiliated Persons, or Second Tier Affiliates, of the Funds, solely by virtue of certain ownership interests, to effectuate purchases and redemptions in-kind. The deposit procedures for in-kind purchases of Creation Units and the redemption procedures for in-kind redemptions of Creation Units will be the same for all purchases and redemptions and Deposit Instruments and Redemption Instruments will be valued in the same manner as those Portfolio Instruments currently held by the Funds. Applicants also seek relief from the prohibitions on affiliated transactions in section 17(a) to permit a Fund to sell its shares to and redeem its shares from a Fund of Funds, and to engage in the accompanying in-kind transactions with the Fund of Funds.\2\ The purchase of Creation Units by a Fund of Funds directly from a Fund will be accomplished in accordance with the policies of the Fund of Funds and will be based on the NAVs of the Funds. --------------------------------------------------------------------------- \2\ The requested relief would apply to direct sales of shares in Creation Units by a Fund to a Fund of Funds and redemptions of those shares. Applicants, moreover, are not seeking relief from section 17(a) for, and the requested relief will not apply to, transactions where a Fund could be deemed an Affiliated Person, or a Second-Tier Affiliate, of a Fund of Funds because an Adviser or an entity controlling, controlled by or under common control with an Adviser provides investment advisory services to that Fund of Funds. --------------------------------------------------------------------------- 9. Applicants also request relief to permit a Feeder Fund to acquire shares of another registered investment company managed by the Adviser having substantially the same investment objectives as the Feeder Fund (``Master Fund'') beyond the limitations in section 12(d)(1)(A) and permit the Master Fund, and any principal underwriter for the Master Fund, to sell shares of the Master Fund to the Feeder Fund beyond the limitations in section 12(d)(1)(B). 10. Section 6(c) of the Act permits the Commission to exempt any persons or transactions from any provision of the Act if such exemption is necessary or appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. Section 12(d)(1)(J) of the Act provides that the Commission may exempt any person, security, or transaction, or any class or classes of persons, securities, or transactions, from any provision of section 12(d)(1) if the [[Page 21284]] exemption is consistent with the public interest and the protection of investors. Section 17(b) of the Act authorizes the Commission to grant an order permitting a transaction otherwise prohibited by section 17(a) if it finds that (a) the terms of the proposed transaction are fair and reasonable and do not involve overreaching on the part of any person concerned; (b) the proposed transaction is consistent with the policies of each registered investment company involved; and (c) the proposed transaction is consistent with the general purposes of the Act. For the Commission, by the Division of Investment Management, under delegated authority. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-09065 Filed 5-4-17; 8:45 am] BILLING CODE 8011-01-P
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adopting Rule 10b–17 will not be event that any material change occurs Funds to pay redemption proceeds,
implicated.7 with respect to any of the facts or under certain circumstances, more than
representations made by the Requestors, seven days after the tender of shares for
Conclusion
and, as is the case with all preceding redemption; (d) certain affiliated
It is hereby ordered, pursuant to Rule relief for ETFs, particularly with respect persons of a Fund to deposit securities
101(d) of Regulation M, that the Trust, to the close alignment between the into, and receive securities from, the
based on the representations and facts market price of Shares and the Fund’s Fund in connection with the purchase
presented in the Letter, is exempt from NAV. In addition, persons relying on and redemption of Creation Units; (e)
the requirements of Rule 101 with these exemptions are directed to the certain registered management
respect to Shares of the Fund, thus anti-fraud and anti-manipulation investment companies and unit
permitting persons who may be deemed provisions of the Exchange Act, investment trusts outside of the same
to be participating in a distribution of particularly Sections 9(a), 10(b), and group of investment companies as the
Shares of the Fund to bid for or Rule 10b–5 thereunder. Responsibility Funds (‘‘Funds of Funds’’) to acquire
purchase such Shares during their for compliance with these and any other shares of the Funds; and (f) certain
participation in such distribution. applicable provisions of the federal Funds (‘‘Feeder Funds’’) to create and
It is further ordered, pursuant to Rule securities laws must rest with the redeem Creation Units in-kind in a
102(e) of Regulation M, that the Trust, persons relying on these exemptions. master-feeder structure.
based on the representations and the This Order should not be considered APPLICANTS: ETF Series Solutions
facts presented in the Letter, is exempt a view with respect to any other (‘‘Trust’’), a Delaware statutory trust
from the requirements of Rule 102 with question that the proposed transactions registered under the Act as an open-end
respect to the Fund, thus permitting the may raise, including, but not limited to, management investment company with
Fund to redeem Shares of the Fund the adequacy of the disclosure multiple series, ClearShares LLC
during the continuous offering of such concerning, and the applicability of (‘‘ClearShares’’), a Delaware limited
Shares. other federal or state laws to, the liability company that is registered as an
It is further ordered, pursuant to Rule proposed transactions. investment adviser under the
10b–17(b)(2), that the Trust, based on For the Commission, by the Division of Investment Advisers Act of 1940, and
the representations and the facts Trading and Markets, pursuant to delegated Quasar Distributors, LLC
presented in the Letter and subject to authority.8 (‘‘Distributor’’), a Delaware limited
the conditions below, is exempt from Eduardo A. Aleman, liability company and broker-dealer
the requirements of Rule 10b–17 with Assistant Secretary. registered under the Securities
respect to the transactions in the Shares [FR Doc. 2017–09080 Filed 5–4–17; 8:45 am] Exchange Act of 1934 (‘‘Exchange Act’’).
of the Fund. FILING DATES: The application was filed
BILLING CODE 8011–01–P
The exemption from Rule 10b–17 is
on January 24, 2017.
subject to the following conditions:
• The Trust will comply with Rule HEARING OR NOTIFICATION OF HEARING: An
SECURITIES AND EXCHANGE order granting the requested relief will
10b–17, except for Rule 10b–
COMMISSION be issued unless the Commission orders
17(b)(1)(v)(a) and (b); and
• The Trust will provide the [Investment Company Act Release No. a hearing. Interested persons may
information required by Rule 10b– 32620; 812–14739] request a hearing by writing to the
17(b)(1)(v)(a) and (b) to the Exchange as Commission’s Secretary and serving
soon as practicable before trading begins ClearShares, LLC et al. applicants with a copy of the request,
on the ex-dividend date, but in no event personally or by mail. Hearing requests
May 1, 2017.
later than the time when the Exchange should be received by the Commission
AGENCY: Securities and Exchange by 5:30 p.m. on May 26, 2017, and
last accepts information relating to Commission (‘‘Commission’’).
distributions on the day before the ex- should be accompanied by proof of
ACTION: Notice. service on applicants, in the form of an
dividend date.
This exemptive relief is subject to Notice of an application for an order affidavit, or for lawyers, a certificate of
modification or revocation at any time under section 6(c) of the Investment service. Pursuant to rule 0–5 under the
the Commission determines that such Company Act of 1940 (the ‘‘Act’’) for an Act, hearing requests should state the
action is necessary or appropriate in exemption from sections 2(a)(32), nature of the writer’s interest, any facts
furtherance of the purposes of the 5(a)(1), 22(d), and 22(e) of the Act and bearing upon the desirability of a
Exchange Act. These exemptions are rule 22c–1 under the Act, under hearing on the matter, the reason for the
based on the facts presented and the sections 6(c) and 17(b) of the Act for an request, and the issues contested.
representations made in the Letter. Any exemption from sections 17(a)(1) and Persons who wish to be notified of a
different facts or representations may 17(a)(2) of the Act, and under section hearing may request notification by
require a different response. Persons 12(d)(1)(J) of the Act for an exemption writing to the Commission’s Secretary.
relying upon this exemptive relief shall from sections 12(d)(1)(A) and ADDRESSES: Secretary, Securities and
promptly present the facts for the 12(d)(1)(B) of the Act. The requested Exchange Commission, 100 F Street NE.,
Commission’s consideration in the order would permit (a) actively- Washington, DC 20549–1090;
managed series of certain open-end Applicants: W. John McGuire, Esq.,
7 We also note that timely compliance with Rule
management investment companies Morgan, Lewis & Bockius, LLP, 1111
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10b–17(b)(1)(v)(a) and (b) would be impractical in (‘‘Funds’’) to issue shares redeemable in Pennsylvania Avenue NW., Washington,
light of the Fund’s nature because it is not possible DC 20004–2541 and Michael D.
for the Fund to accurately project ten days in large aggregations only (‘‘Creation
advance what dividend, if any, would be paid on Units’’); (b) secondary market Barolsky, Esq., U.S. Bancorp Fund
a particular record date. Further, the Commission transactions in Fund shares to occur at Services, LLC, 615 E. Michigan Street,
finds, based on the Requestors representations in negotiated market prices rather than at Milwaukee, WI 53202.
the Letter, that the provision of notices as described
net asset value (‘‘NAV’’); (c) certain FOR FURTHER INFORMATION CONTACT:
in the Letter would not constitute a manipulative
or deceptive device or contrivance comprehended Rochelle Kauffman Plesset, Senior
within the purpose of Rule 10b–17. 8 17 CFR 200.30–3(a)(6) and (9). Counsel, at (202) 551–6840 or Daniele
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exemption is consistent with the public including a response letter from FICC. a qualified institutional buyer (‘‘QIB’’),
interest and the protection of investors. For the reasons discussed below, the as defined in Rule 144A 10 under the
Section 17(b) of the Act authorizes the Commission is approving the Proposed Securities Act of 1933.11
Commission to grant an order Rule Change. The Proposed Rule Change would
permitting a transaction otherwise eliminate the RIC requirement.
II. Description of the Proposed Rule
prohibited by section 17(a) if it finds However, in order to ensure that
Change
that (a) the terms of the proposed Sponsored Members are financially
transaction are fair and reasonable and The Proposed Rule Change consists of sophisticated, FICC would retain the
do not involve overreaching on the part changes to the Government Securities QIB requirement to the extent that the
of any person concerned; (b) the Division (‘‘GSD’’) Rulebook (‘‘Rules’’) 5 Sponsored Member’s legal entity type
proposed transaction is consistent with in order to (i) expand the types of falls under one of the enumerated
the policies of each registered entities that are eligible to participate in categories of Rule 144A’s QIB
investment company involved; and (c) FICC’s Sponsored Membership program definition.12 For institutional firms
the proposed transaction is consistent as Sponsored Members, and (ii) make whose entity types do not clearly fall
with the general purposes of the Act. amendments and clarifications to the into one of the enumerated categories in
Rules relating to the Sponsored Rule 144A’s QIB definition, FICC
For the Commission, by the Division of
Investment Management, under delegated Membership service in general. proposes to require that such Sponsored
authority. A. The Proposed Expansion of Members satisfy the financial
Eduardo A. Aleman, Sponsored Member Eligibility requirements that an entity specifically
Assistant Secretary. listed in paragraph (a)(1)(i) of Rule 144A
Currently, GSD Bank Netting must satisfy in order to be a QIB.13
[FR Doc. 2017–09065 Filed 5–4–17; 8:45 am] Members that are well-capitalized with
Because the proposal would newly
BILLING CODE 8011–01–P at least $5 billion in equity capital are
permit non-U.S. entities to become
permitted to serve as Sponsoring
Sponsored Members, FICC proposes to
Members and sponsor certain
SECURITIES AND EXCHANGE amend the GSD Rules to provide that
institutional firms into GSD
COMMISSION such entities would be considered FFI
membership as Sponsored Members.6 A
Members 14 subject to FATCA
[Release No. 34–80563; File No. SR–FICC– Sponsoring Member is permitted to
compliance obligations.15
2017–003] submit to FICC for comparison,
novation, and netting certain types of The proposal would also clarify that
Self-Regulatory Organizations; Fixed eligible transactions between itself and the existing requirement on all
Income Clearing Corporation; Order its Sponsored Members (‘‘Sponsored Sponsored Members and their
Approving a Proposed Rule Change, Member Trades’’).7 For operational and Sponsoring Members to comply with all
as Modified by Amendment No. 1, To administrative purposes, FICC interacts applicable laws includes the
Expand the Types of Entities That Are solely with the Sponsoring Member as requirement to comply with global
Eligible To Participate in Fixed Income agent for purposes of the day-to-day sanctions laws.
Clearing Corporation as Sponsored satisfaction of its Sponsored Members’
Members and Make Other Changes obligations to FICC, including the
10 17 CFR 230.144A.
11 15 U.S.C. 77a et. seq.
May 1, 2017. Sponsored Members’ securities and 12 17 CFR 230.144A(a)(1)(i) defines a qualified
funds-only settlement obligations.8 institutional buyer as an entity ‘‘. . . acting for its
I. Introduction Currently, eligibility to become a own account or the accounts of other qualified
On March 1, 2017, Fixed Income Sponsored Member is limited to institutional buyers, that in the aggregate owns and
investment companies that are invests on a discretionary basis at least $100 million
Clearing Corporation (‘‘FICC’’) filed in securities of issuers that are not affiliated with
with the Securities and Exchange registered under the Investment the entity. . . .’’
Commission (‘‘Commission’’) proposed Company Act of 1940 9 (each, a 13 See Notice, 82 FR at 14266. Because
rule change SR–FICC–2017–003, ‘‘Registered Investment Company’’ or conceptions of financial sophistication may change
‘‘RIC’’) and that meet the definition of over time, FICC’s proposal ties this requirement to
pursuant to Section 19(b)(1) of the the QIB definition in Rule 144A, as such definition
Securities Exchange Act of 1934 may be amended from time to time.
(‘‘Act’’) 1 and Rule 19b–4 thereunder.2 Letter’’); letter from Robert E. Pooler Jr., Chief 14 See Notice, 82 FR at 14267. Pursuant to Rule
Financial Officer, Ronin Capital, LLC (‘‘Ronin’’),
On March 13, 2017, FICC filed dated April 7, 2017, to Robert W. Errett, Deputy
1, the term ‘‘FFI Member’’ means ‘‘any Person that
Amendment No. 1 to the proposed rule is treated as a non-U.S. entity for U.S. federal
Secretary, Commission (‘‘Ronin Letter I’’); letter
income tax purposes.’’ Rules, supra note 5. For the
change, which amended and replaced from Murray Pozmanter, Managing Director, FICC,
avoidance of doubt, the term FFI Member also
the original filing in its entirety dated April 17, 2017, to Robert W. Errett, Deputy
includes ‘‘any Member that is a U.S. branch of an
Secretary, Commission (‘‘FICC Letter’’); letter from
(hereinafter, ‘‘Proposed Rule Change’’). Robert E. Pooler Jr., Chief Financial Officer, Ronin,
entity that is treated as a non-U.S. entity for U.S.
The Proposed Rule Change was federal income tax purposes.’’ Id.
dated April 20, 2017, to Robert W. Errett, Deputy 15 FATCA is the Foreign Account Tax
published for comment in the Federal Secretary, Commission (‘‘Ronin Letter II’’) available
Compliance Act, 26 U.S.C. 1471 et seq. The Rules
Register on March 17, 2017.3 The at https://www.sec.gov/comments/sr-ficc-2017-003/
ficc2017003.htm. define FATCA Compliant to mean that an ‘‘. . . FFI
Commission received four comment 5 Capitalized terms not defined herein are defined Member has qualified under such procedures
letters 4 to the Proposed Rule Change, promulgated by the Internal Revenue Service . . .
in the Rules, available at http://www.dtcc.com/
to establish exemption from withholding under
legal/rules-and-procedures.
FATCA such that [FICC] would not be required to
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1 15 U.S.C. 78s(b)(1). 6 Rule 3A, Section 2, supra note 5.
withhold [anything] under FATCA . . . .’’ Rules,
2 17 CFR 240.19b–4. 7 The Sponsoring Member is required to establish
supra note 5. Although GSD has Members,
3 Securities Exchange Act Release No. 80236 an omnibus account at FICC for all of its Sponsored including certain Bank Netting Members, which are
(March 14, 2017), 82 FR 14265 (March 17, 2017) Members’ FICC-cleared activity (‘‘Sponsoring non-U.S. entities, currently there are no Sponsoring
(SR–FICC–2017–003) (‘‘Notice’’). Member Omnibus Account’’), which is separate Members that are non-U.S. entities. See Notice, 82
4 See letter from Stefan M. Gavell, Executive Vice from the Sponsoring Member’s regular netting FR at 14267. Any future Sponsoring Member or
President and Head of Regulatory, Industry and account. Rule 1; Rule 3A, Section 10, supra note 5. Sponsored Member that is an FFI Member will be
8 See Rule 3A, Sections 5, 6, 7, 8 and 9, supra
Government Affairs, State Street Corporation subject to the same FATCA Compliance screening
(‘‘State Street’’), dated April 7, 2017, to Brent J. note 5. as any other Member that is a non-U.S. entity.
Fields, Secretary, Commission (‘‘State Street 9 15 U.S.C. 80a–1 et. seq. Proposed Rule 3A, Section 3.
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Document Created: 2018-11-08 08:39:06
Document Modified: 2018-11-08 08:39:06
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | The application was filed on January 24, 2017. | |
| Contact | Rochelle Kauffman Plesset, Senior Counsel, at (202) 551-6840 or Daniele Marchesani, Assistant Chief Counsel, at (202) 551-6747 (Division of Investment Management, Chief Counsel's Office). | |
| FR Citation | 82 FR 21282 |
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