82 FR 52338 - Submission for OMB Review; Comment Request
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 217 (November 13, 2017)
Federal Register Volume 82, Issue 217 (November 13, 2017)
| Page Range | 52338-52339 | |
| FR Document | 2017-24486 |
[Federal Register Volume 82, Number 217 (Monday, November 13, 2017)] [Notices] [Pages 52338-52339] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-24486] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE., Washington, DC 20549-2736. Extension: Form N-54C; SEC File No. 270-184, OMB Control No. 3235-0236 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (the ``Commission'') has submitted to the Office of Management and Budget a request for extension of the previously approved collection of information discussed below. Certain investment companies can elect to be regulated as business development companies, as defined in section 2(a)(48) of the Investment Company Act of 1940 (``Investment Company Act''), under sections 55 through 65 of the Investment Company Act. Under section 54(a) of the Investment Company Act,\1\ any company defined in section 2(a)(48)(A) and (B) of the Investment Company Act may, if it meets certain enumerated eligibility requirements, elect to be subject to the provisions of Sections 55 through 65 of the Investment Company Act by filing with the Commission a notification of election. Under section 54(c) of the Investment Company Act,\2\ any business development company may voluntarily withdraw its election under section 54(a) of the Investment Company Act by filing a notice of withdrawal of election with the Commission. The Commission has adopted Form N-54C as the form for the notification of withdrawal of election to be subject to Sections 55 through 65 of the Investment Company Act. The purpose of Form N-54C is to notify the Commission that the business development company withdraws its election to be subject to Sections 55 through 65 of the Investment Company Act. --------------------------------------------------------------------------- \1\ 15 U.S.C. 80a-53(a). \2\ 15 U.S.C. 80a-53(c). --------------------------------------------------------------------------- The Commission estimates that on average approximately four business development companies file notifications on Form N-54C each year. Each of those business development companies need only make a single filing of Form N-54C. The Commission further estimates that this information collection imposes a burden of one hour, resulting in a total annual burden of four hours. Based on the estimated wage rate, the total cost to the business development company industry of the hour burden for complying with Form N-54C would be approximately $1,380.\3\ --------------------------------------------------------------------------- \3\ The industry burden is calculated by multiplying the total annual hour burden to prepare Form N-54C (four) by the estimated hourly wage rate of $345 for a compliance attorney or other business development company employee with similar duties and responsibilities. The estimated wage figure is based on published rates for compliance attorneys from the Securities Industry and Financial Markets Association's Report on Management & Professional Earnings in the Securities Industry 2013, modified by Commission staff to account for an 1800 hour work-year and inflation, and multiplied by 5.35 to account for bonuses, firm size, employee benefits and overhead, yielding an effective hourly rate of $1,380. --------------------------------------------------------------------------- The collection of information under Form N-54C is mandatory. The information provided by the form is not kept confidential. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. The public may view the background documentation for this information collection at the following Web site, www.reginfo.gov. Comments should be directed to: (i) Desk Officer for the [[Page 52339]] Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503, or by sending an email to: [email protected]; and (ii) Pamela Dyson, Director/Chief Information Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of this notice. Dated: November 7, 2017. Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-24486 Filed 11-9-17; 8:45 am] BILLING CODE 8011-01-P
![52338 Federal Register / Vol. 82, No. 217 / Monday, November 13, 2017 / Notices
guidance in future requests or Detailed meeting agendas and meeting Investment Company Act,1 any
applications for NRC’s licensing actions. transcripts are available on the NRC company defined in section 2(a)(48)(A)
Dated at Rockville, Maryland, this 6th day Web site at http://www.nrc.gov/reading- and (B) of the Investment Company Act
of November, 2017. rm/doc-collections/acrs. Information may, if it meets certain enumerated
For the Nuclear Regulatory Commission. regarding topics to be discussed, eligibility requirements, elect to be
Thomas H. Boyce, changes to the agenda, whether the subject to the provisions of Sections 55
meeting has been canceled or through 65 of the Investment Company
Chief, Regulatory Guidance and Generic
Issues Branch, Division of Engineering, Office rescheduled, and the time allotted to Act by filing with the Commission a
of Nuclear Regulatory Research. present oral statements can be obtained notification of election. Under section
[FR Doc. 2017–24484 Filed 11–9–17; 8:45 am] from the Web site cited above or by 54(c) of the Investment Company Act,2
contacting the identified DFO. any business development company
BILLING CODE 7590–01–P
Moreover, in view of the possibility that may voluntarily withdraw its election
the schedule for ACRS meetings may be under section 54(a) of the Investment
NUCLEAR REGULATORY adjusted by the Chairman as necessary Company Act by filing a notice of
COMMISSION to facilitate the conduct of the meeting, withdrawal of election with the
persons planning to attend should check Commission. The Commission has
Advisory Committee on Reactor with these references if such adopted Form N–54C as the form for the
Safeguards (ACRS); Meeting of the rescheduling would result in a major notification of withdrawal of election to
ACRS Subcommittee on Regulatory inconvenience. be subject to Sections 55 through 65 of
Policies & Practices; Notice of Meeting If attending this meeting, please enter the Investment Company Act. The
through the One White Flint North purpose of Form N–54C is to notify the
The ACRS Subcommittee on Commission that the business
Regulatory Policies and Practices will building, 11555 Rockville Pike,
Rockville, Maryland 20852. After development company withdraws its
hold a meeting on November 15, 2017, election to be subject to Sections 55
at 11545 Rockville Pike, Room T–2B1, registering with Security, please contact
Mr. Theron Brown (Telephone 301– through 65 of the Investment Company
Rockville, Maryland 20852. Act.
This meeting will be open to public 415–6207) to be escorted to the meeting
The Commission estimates that on
attendance. The agenda for the subject room.
average approximately four business
meeting shall be as follows: Dated: October 31, 2017. development companies file
Wednesday, November 15, 2017—8:30 Mark L. Banks, notifications on Form N–54C each year.
a.m. Until 12:00 p.m. Chief, Technical Support Branch, Advisory Each of those business development
Committee on Reactor Safeguards. companies need only make a single
The Subcommittee will review the [FR Doc. 2017–24433 Filed 11–9–17; 8:45 am] filing of Form N–54C. The Commission
Early Site Permit for Clinch River and further estimates that this information
BILLING CODE 7590–01–P
will hear presentations by and hold collection imposes a burden of one
discussions with the NRC staff and hour, resulting in a total annual burden
other interested persons regarding this of four hours. Based on the estimated
matter. The Subcommittee will gather SECURITIES AND EXCHANGE wage rate, the total cost to the business
information, analyze relevant issues and COMMISSION development company industry of the
facts, and formulate proposed positions hour burden for complying with Form
and actions, as appropriate, for Submission for OMB Review; N–54C would be approximately $1,380.3
deliberation by the Full Committee. Comment Request The collection of information under
Members of the public desiring to Form N–54C is mandatory. The
provide oral statements and/or written Upon Written Request, Copies Available information provided by the form is not
comments should notify the Designated From: Securities and Exchange kept confidential. An agency may not
Federal Official (DFO), Quynh Nguyen Commission, Office of FOIA Services, conduct or sponsor, and a person is not
(Telephone 301–415–5844 or Email 100 F Street NE., Washington, DC required to respond to, a collection of
Quynh.Nguyen@nrc.gov) five days prior 20549–2736. information unless it displays a
to the meeting, if possible, so that Extension: currently valid control number.
appropriate arrangements can be made. Form N–54C; SEC File No. 270–184, OMB The public may view the background
Thirty-five hard copies of each Control No. 3235–0236 documentation for this information
presentation or handout should be collection at the following Web site,
provided to the DFO thirty minutes Notice is hereby given that, pursuant www.reginfo.gov. Comments should be
before the meeting. In addition, one to the Paperwork Reduction Act of 1995 directed to: (i) Desk Officer for the
electronic copy of each presentation (44 U.S.C. 3501 et seq.), the Securities
should be emailed to the DFO one day and Exchange Commission (the 1 15 U.S.C. 80a–53(a).
before the meeting. If an electronic copy ‘‘Commission’’) has submitted to the 2 15 U.S.C. 80a–53(c).
cannot be provided within this Office of Management and Budget a 3 The industry burden is calculated by
timeframe, presenters should provide request for extension of the previously multiplying the total annual hour burden to prepare
approved collection of information Form N–54C (four) by the estimated hourly wage
the DFO with a CD containing each rate of $345 for a compliance attorney or other
discussed below.
asabaliauskas on DSKBBXCHB2PROD with NOTICES
presentation at least thirty minutes business development company employee with
before the meeting. Electronic Certain investment companies can similar duties and responsibilities. The estimated
elect to be regulated as business wage figure is based on published rates for
recordings will be permitted only compliance attorneys from the Securities Industry
during those portions of the meeting development companies, as defined in and Financial Markets Association’s Report on
that are open to the public. Detailed section 2(a)(48) of the Investment Management & Professional Earnings in the
procedures for the conduct of and Company Act of 1940 (‘‘Investment Securities Industry 2013, modified by Commission
Company Act’’), under sections 55 staff to account for an 1800 hour work-year and
participation in ACRS meetings were inflation, and multiplied by 5.35 to account for
published in the Federal Register on through 65 of the Investment Company bonuses, firm size, employee benefits and overhead,
October 4, 2017 (82 FR 46312). Act. Under section 54(a) of the yielding an effective hourly rate of $1,380.
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![Federal Register / Vol. 82, No. 217 / Monday, November 13, 2017 / Notices 52339
Securities and Exchange Commission, Funds (‘‘Feeder Funds’’) to create and funds (‘‘ETFs’’).1 Fund shares will be
Office of Information and Regulatory redeem Creation Units in-kind in a purchased and redeemed at their NAV
Affairs, Office of Management and master-feeder structure. in Creation Units only. All orders to
Budget, Room 10102, New Executive APPLICANTS: CBOE Vest Financial, LLC purchase Creation Units and all
Office Building, Washington, DC 20503, (the ‘‘Initial Adviser’’), a Delaware redemption requests will be placed by
or by sending an email to: Shagufta_ limited liability company registered as or through an ‘‘Authorized Participant’’
Ahmed@omb.eop.gov; and (ii) Pamela an investment adviser under the which will have signed a participant
Dyson, Director/Chief Information Investment Advisers Act of 1940, ETF agreement with the Distributor. Shares
Officer, Securities and Exchange Series Solutions (the ‘‘Trust’’), a will be listed and traded individually on
Commission, c/o Remi Pavlik-Simon, Delaware statutory trust registered a national securities exchange, where
100 F Street NE., Washington, DC 20549 under the Act as an open-end share prices will be based on the current
or send an email to: PRA_Mailbox@ management investment company with bid/offer market. Certain Funds may
sec.gov. Comments must be submitted to multiple series. operate as Feeder Funds in a master-
OMB within 30 days of this notice. FILING DATES: The application was filed feeder structure. Any order granting the
Dated: November 7, 2017. on July 18, 2017 and amended on requested relief would be subject to the
Eduardo A. Aleman, October 19, 2017. terms and conditions stated in the
HEARING OR NOTIFICATION OF HEARING: An application.
Assistant Secretary.
order granting the requested relief will 2. Each Fund will consist of a
[FR Doc. 2017–24486 Filed 11–9–17; 8:45 am]
be issued unless the Commission orders portfolio of securities and other assets
BILLING CODE 8011–01–P
a hearing. Interested persons may and investment positions (‘‘Portfolio
request a hearing by writing to the Instruments’’). Each Fund will disclose
SECURITIES AND EXCHANGE Commission’s Secretary and serving on its Web site the identities and
COMMISSION applicants with a copy of the request, quantities of the Portfolio Instruments
personally or by mail. Hearing requests that will form the basis for the Fund’s
[Investment Company Act Release No. should be received by the Commission calculation of NAV at the end of the
32896; 812–14801] by 5:30 p.m. on December 1, 2017, and day.
should be accompanied by proof of 3. Shares will be purchased and
CBOE Vest Financial, LLC, et al.
service on applicants, in the form of an redeemed in Creation Units only and
November 7, 2017. affidavit, or for lawyers, a certificate of generally on an in-kind basis. Except
AGENCY: Securities and Exchange service. Pursuant to rule 0–5 under the where the purchase or redemption will
Commission (‘‘Commission’’). Act, hearing requests should state the include cash under the limited
ACTION: Notice.
nature of the writer’s interest, any facts circumstances specified in the
bearing upon the desirability of a application, purchasers will be required
Notice of an application for an order hearing on the matter, the reason for the to purchase Creation Units by
under section 6(c) of the Investment request, and the issues contested. depositing specified instruments
Company Act of 1940 (the ‘‘Act’’) for an Persons who wish to be notified of a (‘‘Deposit Instruments’’), and
exemption from sections 2(a)(32), hearing may request notification by shareholders redeeming their shares
5(a)(1), 22(d), and 22(e) of the Act and writing to the Commission’s Secretary. will receive specified instruments
rule 22c–1 under the Act, under ADDRESSES: Secretary, Securities and (‘‘Redemption Instruments’’). The
sections 6(c) and 17(b) of the Act for an Exchange Commission, 100 F Street NE., Deposit Instruments and the
exemption from sections 17(a)(1) and Washington, DC 20549–1090; Redemption Instruments will each
17(a)(2) of the Act, and under section Applicants: W. John McGuire, Esq., correspond pro rata to the positions in
12(d)(1)(J) of the Act for an exemption Morgan, Lewis & Bockius LLP, 1111 the Fund’s portfolio (including cash
from sections 12(d)(1)(A) and Pennsylvania Avenue NW., Washington, positions) except as specified in the
12(d)(1)(B) of the Act. The requested DC 20004–2541 and Michael D. application.
order would permit (a) actively- Barolsky, Esq., U.S. Bancorp Fund 4. Because shares will not be
managed series of certain open-end Services, LLC, 615 E. Michigan Street, individually redeemable, applicants
management investment companies Milwaukee, WI 53202. request an exemption from section
(‘‘Funds’’) to issue shares redeemable in FOR FURTHER INFORMATION CONTACT: Brad 5(a)(1) and section 2(a)(32) of the Act
large aggregations only (‘‘Creation Gude, Senior Counsel, at (202) 551– that would permit the Funds to register
Units’’); (b) secondary market 5590, or Robert H. Shapiro, Branch as open-end management investment
transactions in Fund shares to occur at Chief, at (202) 551–6821 (Division of companies and issue shares that are
negotiated market prices rather than at Investment Management, Chief redeemable in Creation Units only.
net asset value (‘‘NAV’’); (c) certain Counsel’s Office).
Funds to pay redemption proceeds, SUPPLEMENTARY INFORMATION: The 1 Applicants request that the order apply to the
under certain circumstances, more than following is a summary of the new series of the Trust as well as to additional
seven days after the tender of shares for series of the Trust and any other open-end
application. The complete application management investment company or series thereof
redemption; (d) certain affiliated may be obtained via the Commission’s that currently exist or that may be created in the
persons of a Fund to deposit securities Web site by searching for the file future (each, included in the term ‘‘Fund’’), each of
asabaliauskas on DSKBBXCHB2PROD with NOTICES
into, and receive securities from, the number, or for an applicant using the which will operate as an actively-managed ETF.
Fund in connection with the purchase Any Fund will (a) be advised by the Initial Adviser
Company name box, at http:// or an entity controlling, controlled by, or under
and redemption of Creation Units; (e) www.sec.gov/search/search.htm or by common control with the Initial Adviser (each such
certain registered management calling (202) 551–8090. entity and any successor thereto is included in the
investment companies and unit term ‘‘Adviser’’) and (b) comply with the terms and
investment trusts outside of the same Summary of the Application conditions of the application. For purposes of the
requested Order, the term ‘‘successor’’ is limited to
group of investment companies as the 1. Applicants request an order that an entity that results from a reorganization into
Funds (‘‘Funds of Funds’’) to acquire would allow Funds to operate as another jurisdiction or a change in the type of
shares of the Funds; and (f) certain actively-managed exchange traded business organization.
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Document Created: 2017-11-10 01:17:56
Document Modified: 2017-11-10 01:17:56
| 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 | |
| FR Citation | 82 FR 52338 |
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