82_FR_36178 82 FR 36031 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Permit the Listing and Trading of Managed Portfolio Shares; and To List and Trade Shares of the Following Under Proposed Rule 14.11(k): ClearBridge Appreciation ETF; ClearBridge Large Cap ETF; ClearBridge MidCap Growth ETF; ClearBridge Select ETF; and ClearBridge All Cap Value ETF

82 FR 36031 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Permit the Listing and Trading of Managed Portfolio Shares; and To List and Trade Shares of the Following Under Proposed Rule 14.11(k): ClearBridge Appreciation ETF; ClearBridge Large Cap ETF; ClearBridge MidCap Growth ETF; ClearBridge Select ETF; and ClearBridge All Cap Value ETF

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 147 (August 2, 2017)

Page Range36031-36032
FR Document2017-16267

Federal Register, Volume 82 Issue 147 (Wednesday, August 2, 2017) 
[Federal Register Volume 82, Number 147 (Wednesday, August 2, 2017)]
[Notices]
[Pages 36031-36032]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-16267]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81247; File No. SR-BatsBZX-2017-30]


Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Permit the Listing and Trading of Managed Portfolio Shares; 
and To List and Trade Shares of the Following Under Proposed Rule 
14.11(k): ClearBridge Appreciation ETF; ClearBridge Large Cap ETF; 
ClearBridge MidCap Growth ETF; ClearBridge Select ETF; and ClearBridge 
All Cap Value ETF

July 28, 2017.
    On June 1, 2017, Bats BZX Exchange, Inc. (``Exchange'') filed with 
the Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder, \2\ a proposed rule change to adopt new Rule 
14.11(k) to permit it to list and trade Managed Portfolio Shares. The 
Exchange also proposed to list and trade shares of ClearBridge 
Appreciation ETF, ClearBridge Large Cap ETF, ClearBridge MidCap Growth 
ETF, ClearBridge Select ETF, and ClearBridge All Cap Value ETF under 
proposed Rule 14.11(k). The proposed rule change was published for 
comment in the Federal Register on June 19, 2017.\3\ The Commission has 
received three comment letters on the proposed rule change.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 80911 (June 13, 
2017), 82 FR 27925.
    \4\ See letters from: (1) Gary Gastineau, President, ETF 
Consultants.com, Inc., dated July 7, 2017; (2) Todd J. Broms, Chief 
Executive Officer, Broms & Company LLC, dated July 10, 2017; and (3) 
James J. Angel, Associate Professor of Finance, Georgetown 
University, McDonough School of Business, dated July 10, 2017. The 
comment letters are available at https://www.sec.gov/comments/sr-batsbzx-2017-30/batsbzx201730.htm.
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    Section 19(b)(2) of the Act \5\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is August 3, 2017. The Commission is extending this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change and the 
comment letters. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\6\ designates September 17, 2017, as the date by 
which the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File Number SR-BatsBZX-2017-30).
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    \6\ Id.


[[Page 36032]]


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    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-16267 Filed 8-1-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 147 / Wednesday, August 2, 2017 / Notices 36031 A copy of each application may be any offering of securities. Applicant will thereunder, 2 a proposed rule change to obtained via the Commission’s Web site continue to operate as a private adopt new Rule 14.11(k) to permit it to by searching for the file number, or for investment fund in reliance on section list and trade Managed Portfolio Shares. an applicant using the Company name 3(c)(7) of the Act. The Exchange also proposed to list and box, at http://www.sec.gov/search/ Filing Dates: The application was trade shares of ClearBridge Appreciation search.htm or by calling (202) 551– filed on July 6, 2017 and amended on ETF, ClearBridge Large Cap ETF, 8090. An order granting each July 18, 2017. ClearBridge MidCap Growth ETF, application will be issued unless the Applicant’s Address: 599 Lexington ClearBridge Select ETF, and ClearBridge SEC orders a hearing. Interested persons Avenue, 19th Floor, New York, New All Cap Value ETF under proposed Rule may request a hearing on any York 10022. 14.11(k). The proposed rule change was application by writing to the SEC’s RiverSource Tax-Exempt Series, Inc. published for comment in the Federal Secretary at the address below and [File No. 811–02686] Register on June 19, 2017.3 The serving the relevant applicant with a copy of the request, personally or by Summary: Applicant seeks an order Commission has received three mail. Hearing requests should be declaring that it has ceased to be an comment letters on the proposed rule received by the SEC by 5:30 p.m. on investment company. Applicant has change.4 August 22, 2017, and should be transferred its assets to Columbia Section 19(b)(2) of the Act 5 provides accompanied by proof of service on Intermediate Municipal Bond Fund, a that, within 45 days of the publication applicants, in the form of an affidavit or, series of Columbia Funds Series Trust I, of notice of the filing of a proposed rule for lawyers, a certificate of service. and, on June 6, 2011, made a final change, or within such longer period up Pursuant to Rule 0–5 under the Act, distribution to its shareholders based on to 90 days as the Commission may hearing requests should state the nature net asset value. Expenses of designate if it finds such longer period of the writer’s interest, any facts bearing approximately $183,001 incurred in to be appropriate and publishes its upon the desirability of a hearing on the connection with the reorganization were reasons for so finding or as to which the matter, the reason for the request, and paid by applicant’s investment adviser. self-regulatory organization consents, the issues contested. Persons who wish Filing Dates: The application was the Commission shall either approve the to be notified of a hearing may request filed on December 16, 2016, and proposed rule change, disapprove the notification by writing to the amended on July 17, 2017. proposed rule change, or institute Commission’s Secretary. Applicant’s Address: 50606 proceedings to determine whether the Address: The Commission: Secretary, Ameriprise Financial Center, U.S. Securities and Exchange proposed rule change should be Minneapolis, Minnesota 55474. Commission, 100 F Street NE., disapproved. The 45th day after For the Commission, by the Division of publication of the notice for this Washington, DC 20549–1090. Investment Management, pursuant to For Further Information Contact: proposed rule change is August 3, 2017. delegated authority. Jessica Shin, Attorney-Adviser, at (202) The Commission is extending this 45- Brent J. Fields, 551–5921 or Chief Counsel’s Office at day time period. Secretary. (202) 551–6821; SEC, Division of The Commission finds that it is [FR Doc. 2017–16273 Filed 8–1–17; 8:45 am] Investment Management, Chief appropriate to designate a longer period BILLING CODE 8011–01–P Counsel’s Office, 100 F Street NE., within which to take action on the Washington, DC 20549–8010. proposed rule change so that it has Susa Registered Fund, L.L.C. [File No. SECURITIES AND EXCHANGE sufficient time to consider the proposed 811–22924] COMMISSION rule change and the comment letters. Summary: Applicant, a closed-end Accordingly, the Commission, pursuant [Release No. 34–81247; File No. SR- to Section 19(b)(2) of the Act,6 investment company, seeks an order BatsBZX–2017–30] declaring that it has ceased to be an designates September 17, 2017, as the investment company. On June 19, 2017 Self-Regulatory Organizations; Bats date by which the Commission shall and July 21, 2017, applicant made BZX Exchange, Inc.; Notice of either approve or disapprove, or liquidating distributions to its Designation of a Longer Period for institute proceedings to determine shareholders, based on net asset value. Commission Action on a Proposed whether to disapprove, the proposed Expenses of approximately $27,000 Rule Change To Permit the Listing and rule change (File Number SR–BatsBZX– incurred in connection with the Trading of Managed Portfolio Shares; 2017–30). liquidation were paid by the applicant. and To List and Trade Shares of the Filing Dates: The application was Following Under Proposed Rule filed on June 27, 2017 and amended on 14.11(k): ClearBridge Appreciation July 24, 2017. ETF; ClearBridge Large Cap ETF; Applicant’s Address: 4400 Computer ClearBridge MidCap Growth ETF; 2 17 CFR 240.19b–4. Drive, Westborough, Massachusetts ClearBridge Select ETF; and 3 See Securities Exchange Act Release No. 80911 01581. ClearBridge All Cap Value ETF (June 13, 2017), 82 FR 27925. 4 See letters from: (1) Gary Gastineau, President, Ramius Archview Credit & Distressed July 28, 2017. ETF Consultants.com, Inc., dated July 7, 2017; (2) Fund [File No. 811–23056] Todd J. Broms, Chief Executive Officer, Broms & sradovich on DSKBCFCHB2PROD with NOTICES On June 1, 2017, Bats BZX Exchange, Company LLC, dated July 10, 2017; and (3) James Summary: Applicant, a closed-end Inc. (‘‘Exchange’’) filed with the J. Angel, Associate Professor of Finance, investment company, seeks an order Securities and Exchange Commission Georgetown University, McDonough School of declaring that it has ceased to be an (‘‘Commission’’), pursuant to Section Business, dated July 10, 2017. The comment letters investment company. Applicant 19(b)(1) of the Securities Exchange Act are available at https://www.sec.gov/comments/sr- currently has three beneficial owners, is of 1934 (‘‘Act’’) 1 and Rule 19b–4 batsbzx-2017–30/batsbzx201730.htm. not presently making an offering of 5 15 U.S.C. 78s(b)(2). securities and does not propose to make 1 15 U.S.C. 78s(b)(1). 6 Id. VerDate Sep<11>2014 19:43 Aug 01, 2017 Jkt 241001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\02AUN1.SGM 02AUN1

36032 Federal Register / Vol. 82, No. 147 / Wednesday, August 2, 2017 / Notices For the Commission, by the Division of dealer registered under the Securities at their NAV in Creation Units only. All Trading and Markets, pursuant to delegated Exchange Act of 1934 (‘‘Exchange Act’’). orders to purchase Creation Units and authority.7 all redemption requests will be placed FILING DATES: The application was filed Eduardo A. Aleman, on February 21, 2017, and amended on by or through an ‘‘Authorized Assistant Secretary. May 11, 2017 and July 12, 2017. Participant’’, which will have signed a [FR Doc. 2017–16267 Filed 8–1–17; 8:45 am] HEARING OR NOTIFICATION OF HEARING: participant agreement with the BILLING CODE 8011–01–P An order granting the requested relief Distributor. Shares will be listed and will be issued unless the Commission traded individually on a national orders a hearing. Interested persons may securities exchange, where share prices SECURITIES AND EXCHANGE request a hearing by writing to the will be based on the current bid/offer COMMISSION Commission’s Secretary and serving market. Any order granting the [Investment Company Act Release No. applicants with a copy of the request, requested relief would be subject to the 32763; 812–14746] personally or by mail. Hearing requests terms and conditions stated in the should be received by the Commission application. Change Finance, PBC, et al. by 5:30 p.m. on August 21, 2017, and 2. Each Fund will hold investment should be accompanied by proof of positions selected to correspond closely July 27, 2017. service on applicants, in the form of an to the performance of an Underlying AGENCY: Securities and Exchange Index. In the case of Self-Indexing Commission (‘‘Commission’’). affidavit, or for lawyers, a certificate of service. Pursuant to rule 0–5 under the Funds, an affiliated person, as defined ACTION: Notice. in section 2(a)(3) of the Act (‘‘Affiliated Act, hearing requests should state the Notice of an application for an order nature of the writer’s interest, any facts Person’’), or an affiliated person of an under section 6(c) of the Investment bearing upon the desirability of a Affiliated Person (‘‘Second-Tier Company Act of 1940 (the ‘‘Act’’) for an hearing on the matter, the reason for the Affiliate’’), of the Trust or a Fund, of the exemption from sections 2(a)(32), request, and the issues contested. Adviser, of any sub-adviser to or 5(a)(1), 22(d), and 22(e) of the Act and Persons who wish to be notified of a promoter of a Fund, or of the Distributor rule 22c–1 under the Act, under hearing may request notification by will compile, create, sponsor or sections 6(c) and 17(b) of the Act for an writing to the Commission’s Secretary. maintain the Underlying Index.2 exemption from sections 17(a)(1) and ADDRESSES: Secretary, Securities and 3. Shares will be purchased and 17(a)(2) of the Act, and under section Exchange Commission, 100 F Street NE., redeemed in Creation Units and 12(d)(1)(J) for an exemption from Washington, DC 20549–1090; generally on an in-kind basis. Except sections 12(d)(1)(A) and 12(d)(1)(B) of Applicants: The Initial Adviser, 705 where the purchase or redemption will the Act. The requested order would Grand View Drive, Alexandria, Virginia include cash under the limited permit (a) index-based series of certain 22305; the Trust and the Distributor, circumstances specified in the open-end management investment 615 East Michigan Street, 4th Floor, application, purchasers will be required companies (‘‘Funds’’) to issue shares Milwaukee, Wisconsin 53202. to purchase Creation Units by redeemable in large aggregations only FOR FURTHER INFORMATION CONTACT: depositing specified instruments (‘‘Creation Units’’); (b) secondary market Elizabeth G. Miller, Senior Counsel, at (‘‘Deposit Instruments’’), and transactions in Fund shares to occur at (202) 551–8707, or Aaron T. Gilbride, shareholders redeeming their shares negotiated market prices rather than at Acting Branch Chief, at (202) 551–6825 will receive specified instruments net asset value (‘‘NAV’’); (c) certain (Division of Investment Management, (‘‘Redemption Instruments’’). The Funds to pay redemption proceeds, Chief Counsel’s Office). Deposit Instruments and the under certain circumstances, more than SUPPLEMENTARY INFORMATION: The Redemption Instruments will each seven days after the tender of shares for following is a summary of the correspond pro rata to the positions in redemption; (d) certain affiliated application. The complete application the Fund’s portfolio (including cash persons of a Fund to deposit securities may be obtained via the Commission’s positions) except as specified in the into, and receive securities from, the Web site by searching for the file application. Fund in connection with the purchase 4. Because shares will not be number, or for an applicant using the and redemption of Creation Units; and individually redeemable, applicants Company name box, at http:// (e) certain registered management www.sec.gov/search/search.htm or by request an exemption from section investment companies and unit calling (202) 551–8090. 5(a)(1) and section 2(a)(32) of the Act investment trusts outside of the same that would permit the Funds to register Summary of the Application as open-end management investment group of investment companies as the Funds (‘‘Funds of Funds’’) to acquire 1. Applicants request an order that companies and issue shares that are shares of the Funds. would allow Funds to operate as index redeemable in Creation Units only. exchange traded funds (‘‘ETFs’’).1 Fund 5. Applicants also request an APPLICANTS: Change Finance, PBC (the shares will be purchased and redeemed exemption from section 22(d) of the Act ‘‘Initial Adviser’’), a Colorado public and rule 22c–1 under the Act as benefit corporation that will be 1 Applicants request that the order apply to the secondary market trading in shares will registered as an investment adviser new series of the Trust and any additional series of take place at negotiated prices, not at a under the Investment Advisers Act of the Trust, and any other open-end management current offering price described in a 1940, ETF Series Solutions (the investment company or series thereof, that may be Fund’s prospectus, and not at a price created in the future (each, included in the term sradovich on DSKBCFCHB2PROD with NOTICES ‘‘Trust’’), a Delaware statutory trust ‘‘Fund’’), each of which will operate as an ETF and registered under the Act as an open-end will track a specified index comprised of domestic 2 Each Self-Indexing Fund will post on its Web management investment company with or foreign equity and/or fixed income securities site the identities and quantities of the investment multiple series, and Quasar Distributors, (each, an ‘‘Underlying Index’’). Any Fund will (a) positions that will form the basis for the Fund’s LLC (the ‘‘Distributor’’), a Delaware be advised by the Initial Adviser or an entity calculation of its NAV at the end of the day. controlling, controlled by, or under common Applicants believe that requiring Self-Indexing limited liability company and broker- control with the Initial Adviser (each, an Funds to maintain full portfolio transparency will ‘‘Adviser’’) and (b) comply with the terms and help address, together with other protections, 7 17 CFR 200.30–3(a)(31). conditions of the application. conflicts of interest with respect to such Funds. VerDate Sep<11>2014 19:43 Aug 01, 2017 Jkt 241001 PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\02AUN1.SGM 02AUN1


Document Created: 2017-08-02 07:09:21
Document Modified: 2017-08-02 07:09:21
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
FR Citation82 FR 36031 
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