82 FR 47051 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove Obsolete Text From Options Regulatory Fee Rule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 194 (October 10, 2017)
Federal Register Volume 82, Issue 194 (October 10, 2017)
| Page Range | 47051-47053 | |
| FR Document | 2017-21670 |
[Federal Register Volume 82, Number 194 (Tuesday, October 10, 2017)] [Notices] [Pages 47051-47053] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-21670] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81803; File No. SR-ISE-2017-85] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove Obsolete Text From Options Regulatory Fee Rule October 3, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on September 25, 2017, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. 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\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to remove obsolete rule text from the Schedule of Fees at Chapter VII, Section C, entitled ``Options Regulatory Fee.'' The text of the proposed rule change is set forth below. Proposed deletions are enclosed in [brackets]. * * * * * Nasdaq ISE Schedule of Fees * * * * * [[Page 47052]] VII. Legal & Regulatory * * * * * C. Options Regulatory Fee [$0.0039 per contract side. Effective August 1, 2017, t]The ORF shall be $0.0016 per contract side. The Options Regulatory Fee (``ORF'') is assessed by ISE to each ISE Member for options transactions cleared by The Options Clearing Corporation (``OCC'') in the customer range where: (1) the execution occurs on ISE or (2) the execution occurs on another exchange and is cleared by an ISE Member. The ORF is collected by OCC on behalf of ISE from (1) ISE clearing members for all customer transactions they clear or (2) non-members for all customer transactions they clear that were executed on ISE. ISE uses reports from OCC when assessing and collecting ORF. The Exchange will notify Members via an Options Trader Alert of any change in the amount of the fee at least 30 calendar days prior to the effective date of the change. * * * * * 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 Exchange 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 these 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 aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange recently amended its Options Regulatory Fee or ``ORF'' located in the Schedule of Fees at Chapter VII, Section C.\3\ At that time the rule text reflected the current fee and the proposed amendment which took effect on August 1, 2017. For clarity and ease of reference, the Exchange proposes to remove the outdated reference to the prior ORF. --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 81345 (August 8, 2017), 82 FR 37939 (August 14, 2017) (SR-ISE-2017-071). --------------------------------------------------------------------------- This rule change is non-substantive and merely serves to update the rule text. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\4\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\5\ in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest, by removing obsolete rule text. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange proposes to remove outdated references to ORF prior to August 1, 2017. The Exchange believes this rule change will provide clarity and ease of reference when Members review the ORF rule. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The proposed change is a non- substantive amendment to remove obsolete rule text. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \6\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(A)(iii). \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic 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-ISE-2017-85 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ISE-2017-85. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the 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-ISE- [[Page 47053]] 2017-85 and should be submitted on or before October 31, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2017-21670 Filed 10-6-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 194 / Tuesday, October 10, 2017 / Notices 47051
11.9 are also consistent with the Act in along with a brief description and text filing also will be available for
that they will provide additional of the proposed rule change, at least five inspection and copying at the principal
specificity to the rules. In particular, the business days prior to the date of filing office of the Exchange. All comments
amendments to paragraph (e)(3) of Rule of the proposed rule change, or such received will be posted without change;
11.10 [sic] will ensure the rule uses shorter time as designated by the the Commission does not edit personal
terminology consistent with the Commission. identifying information from
description of Replace messages and At any time within 60 days of the submissions. You should submit only
their impact on an order’s priority under filing of the proposed rule change, the information that you wish to make
Exchange Rule 11.12(a)(4). Also, the Commission summarily may available publicly. All submissions
Exchange notes that the proposed temporarily suspend such rule change if should refer to File Number SR–
change would harmonize the it appears to the Commission that such BatsBYX–2017–24, and should be
description of Replace messages under action is: (1) Necessary or appropriate in submitted on or before October 31,
Exchange Rule 11.9(e)(3) with EDGX the public interest; (2) for the protection 2017.
Rule 11.10(e)(3). of investors; or (3) otherwise in
For the Commission, by the Division of
furtherance of the purposes of the Act. Trading and Markets, pursuant to delegated
B. Self-Regulatory Organization’s If the Commission takes such action, the
Statement on Burden on Competition authority.38
Commission shall institute proceedings Robert W. Errett,
The Exchange does not believe that to determine whether the proposed rule
Deputy Secretary.
the proposed rule change will result in should be approved or disapproved.
[FR Doc. 2017–21673 Filed 10–6–17; 8:45 am]
any burden on competition that is not IV. Solicitation of Comments BILLING CODE 8011–01–P
necessary or appropriate in furtherance
of the purposes of the Act, as amended. Interested persons are invited to
On the contrary, the Exchange believes submit written data, views, and
arguments concerning the foregoing, SECURITIES AND EXCHANGE
the proposed rule change promotes
including whether the proposed rule COMMISSION
competition because it will enable the
Exchange to offer functionality change is consistent with the Act. [Release No. 34–81803; File No. SR–ISE–
substantially similar to that offered by Comments may be submitted by any of 2017–85]
Nasdaq and IEX.35 In addition, the the following methods:
proposed amendments to paragraph Self-Regulatory Organizations; Nasdaq
Electronic Comments ISE, LLC; Notice of Filing and
(e)(3) of Rule 11.10 [sic] would not have
• Use the Commission’s Internet Immediate Effectiveness of Proposed
any impact on competition as they
comment form (http://www.sec.gov/ Rule Change To Remove Obsolete Text
simply provide additional details to the
rules/sro.shtml); or From Options Regulatory Fee Rule
rule and do not alter current System
• Send an email to rule-comments@
functionality. Therefore, the Exchange October 3, 2017.
sec.gov. Please include File Number SR–
does not believe the proposed rule Pursuant to Section 19(b)(1) of the
BatsBYX–2017–24 on the subject line.
change will result in any burden on Securities Exchange Act of 1934
intermarket competition that is not Paper Comments (‘‘Act’’),1 and Rule 19b–4 thereunder,2
necessary or appropriate in furtherance • Send paper comments in triplicate notice is hereby given that on
of the purposes of the Act. to Secretary, Securities and Exchange September 25, 2017, Nasdaq ISE, LLC
C. Self-Regulatory Organization’s Commission, 100 F Street NE., (‘‘ISE’’ or ‘‘Exchange’’) filed with the
Statement on Comments on the Washington, DC 20549–1090. Securities and Exchange Commission
Proposed Rule Change Received From All submissions should refer to File (‘‘SEC’’ or ‘‘Commission’’) the proposed
Members, Participants, or Others Number SR–BatsBYX–2017–24. This rule change as described in Items I, II,
file number should be included on the and III, below, which Items have been
No comments were solicited or
subject line if email is used. To help the prepared by the Exchange. The
received on the proposed rule change.
Commission process and review your Commission is publishing this notice to
III. Date of Effectiveness of the comments more efficiently, please use solicit comments on the proposed rule
Proposed Rule Change and Timing for only one method. The Commission will change from interested persons.
Commission Action post all comments on the Commission’s I. Self-Regulatory Organization’s
Because the foregoing proposed rule Internet Web site (http://www.sec.gov/ Statement of the Terms of Substance of
change does not: (A) Significantly affect rules/sro.shtml). Copies of the the Proposed Rule Change
the protection of investors or the public submission, all subsequent
amendments, all written statements The Exchange proposes to remove
interest; (B) impose any significant
with respect to the proposed rule obsolete rule text from the Schedule of
burden on competition; and (C) by its
change that are filed with the Fees at Chapter VII, Section C, entitled
terms, become operative for 30 days
Commission, and all written ‘‘Options Regulatory Fee.’’
from the date on which it was filed or
communications relating to the The text of the proposed rule change
such shorter time as the Commission
proposed rule change between the is set forth below. Proposed deletions
may designate, it has become effective
Commission and any person, other than are enclosed in [brackets].
pursuant to Section 19(b)(3)(A) of the
Act 36 and paragraph (f)(6) of Rule 19b– those that may be withheld from the * * * * *
public in accordance with the
sradovich on DSK3GMQ082PROD with NOTICES
4 thereunder.37 As required by Rule Nasdaq ISE
19b–4(f)(6)(iii), the Exchange has given provisions of 5 U.S.C. 552, will be
the Commission written notice of its available for Web site viewing and Schedule of Fees
intent to file the proposed rule change, printing in the Commission’s Public * * * * *
Reference Room, 100 F Street NE.,
35 See supra note 30. Washington, DC 20549 on official 38 17 CFR 200.30–3(a)(12).
36 15 U.S.C. 78s(b)(3)(A). business days between the hours of 1 15 U.S.C. 78s(b)(1).
37 17 CFR 240.19b–4. 10:00 a.m. and 3:00 p.m. Copies of the 2 17 CFR 240.19b–4.
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![47052 Federal Register / Vol. 82, No. 194 / Tuesday, October 10, 2017 / Notices
VII. Legal & Regulatory 2. Statutory Basis action is: (i) Necessary or appropriate in
* * * * * The Exchange believes that its the public interest; (ii) for the protection
proposal is consistent with Section 6(b) of investors; or (iii) otherwise in
C. Options Regulatory Fee furtherance of the purposes of the Act.
of the Act,4 in general, and furthers the
[$0.0039 per contract side. Effective objectives of Section 6(b)(5) of the Act,5 If the Commission takes such action, the
August 1, 2017, t]The ORF shall be in particular, in that it is designed to Commission shall institute proceedings
$0.0016 per contract side. promote just and equitable principles of to determine whether the proposed rule
The Options Regulatory Fee (‘‘ORF’’) trade, to remove impediments to and should be approved or disapproved.
is assessed by ISE to each ISE Member perfect the mechanism of a free and IV. Solicitation of Comments
for options transactions cleared by The open market and a national market
Options Clearing Corporation (‘‘OCC’’) system, and, in general to protect Interested persons are invited to
in the customer range where: (1) the investors and the public interest, by submit written data, views, and
execution occurs on ISE or (2) the removing obsolete rule text. arguments concerning the foregoing,
execution occurs on another exchange The Exchange proposes to remove including whether the proposed rule
and is cleared by an ISE Member. The outdated references to ORF prior to change is consistent with the Act.
ORF is collected by OCC on behalf of August 1, 2017. The Exchange believes Comments may be submitted by any of
ISE from (1) ISE clearing members for this rule change will provide clarity and the following methods:
all customer transactions they clear or ease of reference when Members review Electronic Comments
(2) non-members for all customer the ORF rule.
transactions they clear that were • Use the Commission’s Internet
executed on ISE. ISE uses reports from B. Self-Regulatory Organization’s comment form (http://www.sec.gov/
OCC when assessing and collecting Statement on Burden on Competition rules/sro.shtml); or
ORF. The Exchange will notify Members The Exchange does not believe that • Send an email to rule-comments@
via an Options Trader Alert of any the proposed rule change will impose sec.gov. Please include File Number SR–
change in the amount of the fee at least any burden on competition not ISE–2017–85 on the subject line.
30 calendar days prior to the effective necessary or appropriate in furtherance Paper Comments
date of the change. of the purposes of the Act. The
* * * * * proposed change is a non-substantive • Send paper comments in triplicate
amendment to remove obsolete rule to Brent J. Fields, Secretary, Securities
II. Self-Regulatory Organization’s text. and Exchange Commission, 100 F Street
Statement of the Purpose of, and NE., Washington, DC 20549–1090.
Statutory Basis for, the Proposed Rule C. Self-Regulatory Organization’s
All submissions should refer to File
Change Statement on Comments on the
Number SR–ISE–2017–85. This file
Proposed Rule Change Received From
In its filing with the Commission, the number should be included on the
Members, Participants, or Others
Exchange included statements subject line if email is used. To help the
concerning the purpose of and basis for No written comments were either Commission process and review your
the proposed rule change and discussed solicited or received. comments more efficiently, please use
any comments it received on the III. Date of Effectiveness of the only one method. The Commission will
proposed rule change. The text of these Proposed Rule Change and Timing for post all comments on the Commission’s
statements may be examined at the Commission Action Internet Web site (http://www.sec.gov/
places specified in Item IV below. The rules/sro.shtml). Copies of the
Exchange has prepared summaries, set Because the foregoing proposed rule submission, all subsequent
forth in sections A, B, and C below, of change does not: (i) Significantly affect amendments, all written statements
the most significant aspects of such the protection of investors or the public with respect to the proposed rule
statements. interest; (ii) impose any significant change that are filed with the
burden on competition; and (iii) become Commission, and all written
A. Self-Regulatory Organization’s operative for 30 days from the date on communications relating to the
Statement of the Purpose of, and which it was filed, or such shorter time proposed rule change between the
Statutory Basis for, the Proposed Rule as the Commission may designate, it has Commission and any person, other than
Change become effective pursuant to Section those that may be withheld from the
1. Purpose 19(b)(3)(A)(iii) of the Act 6 and public in accordance with the
subparagraph (f)(6) of Rule 19b–4 provisions of 5 U.S.C. 552, will be
The Exchange recently amended its thereunder.7 available for Web site viewing and
Options Regulatory Fee or ‘‘ORF’’ At any time within 60 days of the printing in the Commission’s Public
located in the Schedule of Fees at filing of the proposed rule change, the Reference Room, 100 F Street NE.,
Chapter VII, Section C.3 At that time the Commission summarily may Washington, DC 20549, on official
rule text reflected the current fee and temporarily suspend such rule change if business days between the hours of
the proposed amendment which took it appears to the Commission that such 10:00 a.m. and 3:00 p.m. Copies of the
effect on August 1, 2017. For clarity and
filing also will be available for
ease of reference, the Exchange proposes 4 15 U.S.C. 78f(b). inspection and copying at the principal
to remove the outdated reference to the 5 15 U.S.C. 78f(b)(5).
office of the Exchange. All comments
sradovich on DSK3GMQ082PROD with NOTICES
prior ORF. 6 15 U.S.C. 78s(b)(3)(A)(iii).
received will be posted without change;
This rule change is non-substantive 7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give the Commission does not edit personal
and merely serves to update the rule
the Commission written notice of its intent to file identifying information from
text. the proposed rule change at least five business days submissions. You should submit only
prior to the date of filing of the proposed rule
3 See Securities Exchange Act Release No. 81345 change, or such shorter time as designated by the
information that you wish to make
(August 8, 2017), 82 FR 37939 (August 14, 2017) Commission. The Exchange has satisfied this available publicly. All submissions
(SR–ISE–2017–071). requirement. should refer to File Number SR–ISE–
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![Federal Register / Vol. 82, No. 194 / Tuesday, October 10, 2017 / Notices 47053
2017–85 and should be submitted on or open-end management investment Fund shares will be purchased and
before October 31, 2017. company with multiple series, Capital redeemed at their NAV in Creation
For the Commission, by the Division of Impact Advisors, LLC (the ‘‘Initial Units (other than pursuant to a
Trading and Markets, pursuant to delegated Adviser’’), a Delaware limited liability distribution reinvestment program), as
authority.8 company registered as an investment described in the application. All orders
Robert W. Errett, adviser under the Investment Advisers to purchase Creation Units and all
Deputy Secretary. Act of 1940, and Rafferty Capital redemption requests will be placed by
[FR Doc. 2017–21670 Filed 10–6–17; 8:45 am]
Markets, LLC (the ‘‘Distributor’’), a or through an ‘‘Authorized Participant,’’
Delaware limited liability company and which will have signed a participant
BILLING CODE 8011–01–P
broker-dealer registered under the agreement with the Distributor. Shares
Securities Exchange Act of 1934 will be listed and traded individually on
SECURITIES AND EXCHANGE (‘‘Exchange Act’’). a national securities exchange, where
COMMISSION FILING DATES: The application was filed share prices will be based on the current
on July 21, 2017. Applicants have bid/offer market. Certain Funds may
[Investment Company Act Release No. agreed to file an amendment during the operate as Feeder Funds in a master-
32847; 812–14803] feeder structure. Any order granting the
notice period, the substance of which is
reflected in this notice. requested relief would be subject to the
EntrepreneurShares Series Trust, et al.
HEARING OR NOTIFICATION OF HEARING: An terms and conditions stated in the
October 3, 2017. order granting the requested relief will application.
AGENCY: Securities and Exchange be issued unless the Commission orders 2. Each Fund will hold investment
Commission (‘‘Commission’’). a hearing. Interested persons may positions selected to correspond closely
ACTION: Notice. request a hearing by writing to the to the performance of an Underlying
Commission’s Secretary and serving Index. In the case of Self-Indexing
Notice of an application for an order applicants with a copy of the request, Funds, an affiliated person, as defined
under section 6(c) of the Investment personally or by mail. Hearing requests in section 2(a)(3) of the Act (‘‘Affiliated
Company Act of 1940 (the ‘‘Act’’) for an should be received by the Commission Person’’), or an affiliated person of an
exemption from sections 2(a)(32), by 5:30 p.m. on October 27, 2017, and Affiliated Person (‘‘Second-Tier
5(a)(1), 22(d), and 22(e) of the Act and should be accompanied by proof of Affiliate’’), of the Trust or a Fund, of the
rule 22c–1 under the Act, under service on applicants, in the form of an Adviser, of any sub-adviser to or
sections 6(c) and 17(b) of the Act for an affidavit, or for lawyers, a certificate of promoter of a Fund, or of the Distributor
exemption from sections 17(a)(1) and service. Pursuant to rule 0–5 under the will compile, create, sponsor or
17(a)(2) of the Act, and under section Act, hearing requests should state the maintain the Underlying Index.2
12(d)(1)(J) for an exemption from nature of the writer’s interest, any facts 3. Shares will be purchased and
sections 12(d)(1)(A) and 12(d)(1)(B) of bearing upon the desirability of a redeemed in Creation Units and
the Act. The requested order would hearing on the matter, the reason for the generally on an in-kind basis, or issued
permit (a) index-based series of certain request, and the issues contested. in less than Creation Unit size to
open-end management investment Persons who wish to be notified of a investors participating in a distribution
companies (‘‘Funds’’) to issue shares hearing may request notification by reinvestment program. Except where the
redeemable in large aggregations writing to the Commission’s Secretary. purchase or redemption will include
(‘‘Creation Units’’); (b) secondary market ADDRESSES: Applicants: Trust and
cash under the limited circumstances
transactions in Fund shares to occur at Initial Adviser, 175 Federal Street, Suite specified in the application, purchasers
negotiated market prices rather than at 875, Boston, MA 02110; Distributor, will be required to purchase Creation
net asset value (‘‘NAV’’); (c) certain 1010 Franklin Ave., Garden City, NY Units by depositing specified
Funds to pay redemption proceeds, 11530. instruments (‘‘Deposit Instruments’’),
under certain circumstances, more than and shareholders redeeming their shares
seven days after the tender of shares for FOR FURTHER INFORMATION CONTACT: will receive specified instruments
redemption; (d) certain affiliated Bruce R. MacNeil, Senior Counsel, at (‘‘Redemption Instruments’’). The
persons of a Fund to deposit securities (202) 551–6817, or David J. Marcinkus, Deposit Instruments and the
into, and receive securities from, the Branch Chief at (202) 551–6821 Redemption Instruments will each
Fund in connection with the purchase (Division of Investment Management, correspond pro rata to the positions in
and redemption of Creation Units; (e) Chief Counsel’s Office). the Fund’s portfolio (including cash
certain registered management SUPPLEMENTARY INFORMATION: The
investment companies and unit following is a summary of the management investment company or existing or
application. The complete application future series thereof (each, included in the term
investment trusts outside of the same ‘‘Fund’’), each of which will operate as an ETF, and
group of investment companies as the may be obtained via the Commission’s their respective existing or future master funds, and
Funds (‘‘Funds of Funds’’) to acquire Web site by searching for the file will track a specified index comprised of domestic
shares of the Funds; (f) certain Funds number, or for an applicant using the and/or foreign equity securities and/or domestic
Company name box, at http:// and/or foreign fixed income securities (each, an
(‘‘Feeder Funds’’) to create and redeem ‘‘Underlying Index’’). Any Fund will (a) be advised
Creation Units in-kind in a master- www.sec.gov/search/search.htm or by by the Initial Adviser or an entity controlling,
feeder structure; and (g) certain Funds calling (202) 551–8090. controlled by, or under common control with the
to issue Shares in less than Creation Initial Adviser (each, an ‘‘Adviser’’) and (b) comply
sradovich on DSK3GMQ082PROD with NOTICES
Summary of the Application with the terms and conditions of the application.
Unit size to investors participating in a
distribution reinvestment program. 1. Applicants request an order that 2 Each Self-Indexing Fund will post on its Web
would allow Funds to operate as index- site the identities and quantities of the investment
APPLICANTS: EntrepreneurShares Series positions that will form the basis for the Fund’s
based exchange traded funds (‘‘ETFs’’).1 calculation of its NAV at the end of the day.
Trust (the ‘‘Trust’’), a Delaware statutory
Applicants believe that requiring Self-Indexing
trust registered under the Act as an 1 Applicants request that the order apply to the Funds to maintain full portfolio transparency will
initial fund and any additional series of the Trust, help address, together with other protections,
8 17 CFR 200.30–3(a)(12). and any other existing or future open-end conflicts of interest with respect to such Funds.
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Document Created: 2017-10-07 10:31:53
Document Modified: 2017-10-07 10:31:53
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 82 FR 47051 |
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