83 FR 32172 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To Require Certain Member Organizations To Participate in Scheduled Market-Wide Circuit Breaker Testing
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 133 (July 11, 2018)
Federal Register Volume 83, Issue 133 (July 11, 2018)
| Page Range | 32172-32174 | |
| FR Document | 2018-14850 |
[Federal Register Volume 83, Number 133 (Wednesday, July 11, 2018)] [Notices] [Pages 32172-32174] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-14850] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83601; File No. SR-NYSE-2018-31] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 1, To Require Certain Member Organizations To Participate in Scheduled Market-Wide Circuit Breaker Testing July 6, 2018. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on June 26, 2018, the New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') a proposed rule change. On July 5, 2018, the Exchange filed Amendment No. 1 to 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, as amended, from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C.78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 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 require certain member organizations to participate in scheduled Market-Wide Circuit Breaker testing. Amendment No.1 supersedes the original filing in its entirety. The proposed rule change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend NYSE Rule 49 to require certain member organizations to participate in scheduled Market-Wide Circuit Breaker (``MWCB'') testing. MWCBs are important, automatic mechanisms that are invoked to promote stability and investor confidence during a period of significant stress when securities markets experience extreme broad- based declines. MWCBs are designed to slow the effects of extreme price movement through coordinated trading halts across securities markets when severe price declines reach levels that may exhaust market liquidity. All U.S. equity and options exchanges have established procedures that allow for trading to be halted, or under extreme circumstances, for markets to be closed before the normal close of trading for a trading day. MWCBs provide for trading halts in all equities and options markets during a severe market decline as measured by a single-day decline in the S&P 500 Index. Pursuant to NYSE Rule 80B (Trading Halts Due to Extraordinary Market Volatility), a market-wide trading halt will be triggered if the S&P 500 Index declines in price by specified percentages from the prior day's closing price of that index. Currently, the triggers are set at three circuit breaker thresholds: 7% (Level 1), 13% (Level 2) and 20% (Level 3). A market decline that triggers a Level 1 or Level 2 circuit breaker after 9:30 a.m. ET and before 3:25 p.m. ET would halt market- wide trading for 15 minutes, while a similar market decline at or after 3:25 p.m. ET would not halt market-wide trading. A market decline that triggers a Level 3 circuit breaker, at any time during the trading day, would halt market-wide trading for the remainder of the trading day. The Security [sic] Information Processors (``SIP'') for the U.S. equity markets have established a quarterly MWCB testing schedule.\4\ On the [[Page 32173]] scheduled dates, the Consolidated Tape Association Plan (``CTA Plan'') and the Consolidated Quotation Plan (``CQ'' Plan'') (collectively ``the CTA/CQ Plans'') \5\ and the Nasdaq/UTP Plan \6\ conduct MWCB testing that allows market participants across the securities industry to test their ability to receive messages associated with MWCBs, including decline status, halt and resume messages. Market participants are also able to participate in testing of re-opening auctions following market- wide circuit breaker halts. --------------------------------------------------------------------------- \4\ See https://www.nyse.com/publicdocs/ctaplan/notifications/trader-update/CTS_CQS%202018_Failover%20Testing_Q1.pdf. \5\ The CTA/CQ Plans govern the collection, consolidation, processing and dissemination of last sale and quotation information for Network A and Network B securities. Network A refers to securities listed on NYSE and Network B refers to securities listed on exchanges other than the Nasdaq Stock Market LLC (``Nasdaq''). \6\ The Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privileges Basis (``Nasdaq/UTP Plan'') governs the collection, consolidation, processing, and dissemination of last sale and quotation information for Network C securities. Network C refers to securities listed on Nasdaq. --------------------------------------------------------------------------- The Exchange believes the quarterly tests are critical to ensure that securities markets halt trading and subsequently re-open in a manner consistent with the MWCB rules. To that end, the Exchange believes that certain member organizations should be required to participate in scheduled MWCB tests. The proposed rule would provide the Exchange with authority to require participation by member organizations in industry-wide tests to validate that their processing in the event of MWCB is as expected within their systems. In 2015, in connection with Regulation Systems Compliance and Integrity (``Regulation SCI''), the Exchange adopted rules to require certain member organizations to participate in testing of the operation of the Exchange's business continuity and disaster recovery plans. The Exchange similarly believes that requiring member organizations to participate in mandatory MWCB testing because they, for example, account for a significant portion of the Exchange's overall volume or maintain exclusive responsibilities with respect to Exchange-listed securities would be a reasonable means to ensure the maintenance of a fair and orderly market. Because member organizations required to participate in Regulation SCI testing have already been identified as essential for the maintenance of a fair and orderly market, the Exchange believes these same member organizations should also be required to participate in scheduled MWCB testing. Accordingly, the Exchange proposes new Rule 49(c)(1), which would provide that each member organization notified of its obligation to participate in mandatory testing pursuant to standards established under paragraphs (b)(1) and (3) \7\ of Rule 49 would also be required to participate in scheduled MWCB testing, in the manner and frequency specified by the Exchange. --------------------------------------------------------------------------- \7\ Paragraph (b)(1) of Rule 49 establishes standards for the designation of member organizations that the Exchange determines are necessary to participate in business continuity and disaster recovery plans testing in connection with Regulation SCI. See Securities Exchange Act Release No. 76346 (November 4, 2015), 80 FR 69765 (November 10, 2015). --------------------------------------------------------------------------- Currently, the annual Regulation SCI test is conducted in October of each calendar year and at least three (3) months prior to such test, the Exchange provides a notice to member organizations that are required to participate in such test (``SCI Notice''). The Exchange proposes that future SCI Notices would also include notification to member organizations of their obligation to participate in a scheduled MWCB test. Finally, proposed Rule 49(c)(2) would provide that member organizations not required to participate in a scheduled MWCB test pursuant to standards established in paragraphs (b)(1) and (3) of Rule 49 would be permitted to participate in a scheduled MWCB test. The Exchange proposes to implement the proposed rule change at the same time that the Exchange notifies member organizations of required participation in the 2019 Regulation SCI industry test.\8\ The 2019 SCI Notice would identify the member organizations that would be required to participate in scheduled MWCB testing. Member organizations notified in the 2019 SCI Notice of their obligation to participate in a scheduled MWCB test would be required to participate in such test on at least one of the testing dates established by the SIPs.\9\ --------------------------------------------------------------------------- \8\ Member organizations were notified of required participation for the 2018 Regulation SCI test scheduled for October 13, 2018 in April 2018. As noted above, the Exchange encourages all member organizations to test voluntarily but believes that implementing the new rule in 2019 would provide member organizations with adequate time to prepare for a scheduled MWCB test. \9\ See supra, note 4. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\10\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\11\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed rule requiring member organizations to participate in mandatory MWCB testing would enable the Exchange, participating member organizations, and others to evaluate the readiness of such member organizations in the event of unanticipated market volatility. The proposal would also ensure that the member organizations necessary to ensure the maintenance of a fair and orderly market are properly designated as such designation would be determined by the same clear and objective standards used by the Exchange currently to determine which member organizations are required to participate in mandatory Regulation SCI testing. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change would impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The Exchange believes that requiring participation in MWCB testing does not impose an undue burden on competition that is not necessary or appropriate because member organizations required to participate in MWCB testing under the proposal have been designated by the Exchange as essential to the maintenance of a fair and orderly market, such that their demonstrated ability to halt and subsequently re-open trading in response to an emergency should contribute to a fair and orderly market for the benefit of all market participants. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. [[Page 32174]] III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-NYSE-2018-31 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSE-2018-31. 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 website (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 website 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSE-2018-31 and should be submitted on or before August 1, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-14850 Filed 7-10-18; 8:45 am] BILLING CODE 8011-01-P
![32172 Federal Register / Vol. 83, No. 133 / Wednesday, July 11, 2018 / Notices
including whether the proposed rule For the Commission, by the Division of on the proposed rule change. The text
change is consistent with the Act. Trading and Markets, pursuant to delegated of those statements may be examined at
Comments may be submitted by any of authority.16 the places specified in Item IV below.
the following methods: Eduardo A. Aleman, The Exchange has prepared summaries,
Assistant Secretary. set forth in sections A, B, and C below,
Electronic Comments [FR Doc. 2018–14849 Filed 7–10–18; 8:45 am] of the most significant parts of such
statements.
• Use the Commission’s internet BILLING CODE 8011–01–P
comment form (http://www.sec.gov/ A. Self-Regulatory Organization’s
rules/sro.shtml); or Statement of the Purpose of, and the
SECURITIES AND EXCHANGE
• Send an email to rule-comments@ Statutory Basis for, the Proposed Rule
COMMISSION
Change
sec.gov. Please include File Number
[Release No. 34–83601; File No. SR–NYSE–
SRb–4CboeEDGX–2018–024 on the 2018–31]
1. Purpose
subject line. The Exchange proposes to amend
Self-Regulatory Organizations; New NYSE Rule 49 to require certain member
Paper Comments
York Stock Exchange LLC; Notice of organizations to participate in
• Send paper comments in triplicate Filing of Proposed Rule Change, as scheduled Market-Wide Circuit Breaker
to Secretary, Securities and Exchange Modified by Amendment No. 1, To (‘‘MWCB’’) testing.
Commission, 100 F Street NE, Require Certain Member Organizations MWCBs are important, automatic
Washington, DC 20549–1090. To Participate in Scheduled Market- mechanisms that are invoked to
Wide Circuit Breaker Testing promote stability and investor
All submissions should refer to File confidence during a period of
Number SRb–4CboeEDGX–2018–024. July 6, 2018. significant stress when securities
This file number should be included on Pursuant to Section 19(b)(1) 1 of the markets experience extreme broad-based
the subject line if email is used. To help Securities Exchange Act of 1934 declines. MWCBs are designed to slow
the Commission process and review (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 the effects of extreme price movement
your comments more efficiently, please notice is hereby given that, on June 26, through coordinated trading halts across
use only one method. The Commission 2018, the New York Stock Exchange securities markets when severe price
will post all comments on the LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed declines reach levels that may exhaust
Commission’s internet website (http:// with the Securities and Exchange market liquidity. All U.S. equity and
Commission (‘‘Commission’’) a options exchanges have established
www.sec.gov/rules/sro.shtml). Copies of
proposed rule change. On July 5, 2018, procedures that allow for trading to be
the submission, all subsequent
the Exchange filed Amendment No. 1 to halted, or under extreme circumstances,
amendments, all written statements the proposed rule change, as described for markets to be closed before the
with respect to the proposed rule in Items I, II, and III, below, which Items normal close of trading for a trading
change that are filed with the have been prepared by the Exchange. day. MWCBs provide for trading halts in
Commission, and all written The Commission is publishing this all equities and options markets during
communications relating to the notice to solicit comments on the a severe market decline as measured by
proposed rule change between the proposed rule change, as amended, from a single-day decline in the S&P 500
Commission and any person, other than interested persons. Index.
those that may be withheld from the Pursuant to NYSE Rule 80B (Trading
public in accordance with the I. Self-Regulatory Organization’s
Halts Due to Extraordinary Market
provisions of 5 U.S.C. 552, will be Statement of the Terms of Substance of
Volatility), a market-wide trading halt
the Proposed Rule Change
available for website viewing and will be triggered if the S&P 500 Index
printing in the Commission’s Public The Exchange proposes to require declines in price by specified
Reference Room, 100 F Street NE, certain member organizations to percentages from the prior day’s closing
Washington, DC 20549, on official participate in scheduled Market-Wide price of that index. Currently, the
business days between the hours of Circuit Breaker testing. Amendment triggers are set at three circuit breaker
10:00 a.m. and 3:00 p.m. Copies of the No.1 supersedes the original filing in its thresholds: 7% (Level 1), 13% (Level 2)
filing also will be available for entirety. The proposed rule change is and 20% (Level 3). A market decline
inspection and copying at the principal available on the Exchange’s website at that triggers a Level 1 or Level 2 circuit
office of the Exchange. All comments www.nyse.com, at the principal office of breaker after 9:30 a.m. ET and before
received will be posted without change. the Exchange, and at the Commission’s 3:25 p.m. ET would halt market-wide
Public Reference Room. trading for 15 minutes, while a similar
Persons submitting comments are
II. Self-Regulatory Organization’s market decline at or after 3:25 p.m. ET
cautioned that we do not redact or edit
Statement of the Purpose of, and would not halt market-wide trading. A
personal identifying information from
Statutory Basis for, the Proposed Rule market decline that triggers a Level 3
comment submissions. You should
Change circuit breaker, at any time during the
submit only information that you wish trading day, would halt market-wide
to make available publicly. All In its filing with the Commission, the trading for the remainder of the trading
submissions should refer to File self-regulatory organization included day.
Number SRb–4CboeEDGX–2018–024 statements concerning the purpose of, The Security [sic] Information
daltland on DSKBBV9HB2PROD with NOTICES
and should be submitted on or before and basis for, the proposed rule change Processors (‘‘SIP’’) for the U.S. equity
August 1, 2018. and discussed any comments it received markets have established a quarterly
MWCB testing schedule.4 On the
16 17 CFR 200.30–3(a)(12).
1 15 U.S.C.78s(b)(1). 4 See https://www.nyse.com/publicdocs/ctaplan/
2 15 U.S.C. 78a.
notifications/trader-update/CTS_CQS%202018_
3 17 CFR 240.19b–4. Failover%20Testing_Q1.pdf.
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III. Date of Effectiveness of the inspection and copying at the principal adviser to BGSL; the investment
Proposed Rule Change and Timing for office of the Exchange. All comments advisers set forth in Schedule A to the
Commission Action received will be posted without change. application (together with GDFM and
Within 45 days of the date of Persons submitting comments are GAM, the ‘‘GSO Advisers’’); the Existing
publication of this notice in the Federal cautioned that we do not redact or edit Affiliated Funds set forth on Schedule
Register or up to 90 days (i) as the personal identifying information from A to the application 1; and Blackstone
Commission may designate if it finds comment submissions. You should Alternative Solutions L.L.C. (‘‘BAS’’).
such longer period to be appropriate submit only information that you wish FILING DATES: The application was filed
and publishes its reasons for so finding to make available publicly. All on October 13, 2017, and amended on
or (ii) as to which the self-regulatory submissions should refer to File June 25, 2018. Applicants have agreed
organization consents, the Commission Number SR–NYSE–2018–31 and should to file an amendment during the notice
will: be submitted on or before August 1, period, the substance of which is
(A) By order approve or disapprove 2018. reflected in this notice.
the proposed rule change, or For the Commission, by the Division of HEARING OR NOTIFICATION OF HEARING:
(B) institute proceedings to determine Trading and Markets, pursuant to delegated An order granting the requested relief
whether the proposed rule change authority.12 will be issued unless the Commission
should be disapproved. Eduardo A. Aleman, orders a hearing. Interested persons may
Assistant Secretary. request a hearing by writing to the
IV. Solicitation of Comments Commission’s Secretary and serving
[FR Doc. 2018–14850 Filed 7–10–18; 8:45 am]
Interested persons are invited to BILLING CODE 8011–01–P applicants with a copy of the request,
submit written data, views, and personally or by mail. Hearing requests
arguments concerning the foregoing, should be received by the Commission
including whether the proposed rule SECURITIES AND EXCHANGE by 5:30 p.m. on July 30, 2018, and
change is consistent with the Act. COMMISSION should be accompanied by proof of
Comments may be submitted by any of service on applicants, in the form of an
[Investment Company Act Release No.
the following methods: 33149; 812–14835]
affidavit or, for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Electronic Comments
Blackstone/GSO Floating Rate Act, hearing requests should state the
• Use the Commission’s internet Enhanced Income Fund, et al. nature of the writer’s interest, any facts
comment form (http://www.sec.gov/ bearing upon the desirability of a
rules/sro.shtml); or July 6, 2018. hearing on the matter, the reason for the
• Send an email to rule-comments@ AGENCY: Securities and Exchange request, and the issues contested.
sec.gov. Please include File Number SR– Commission (‘‘Commission’’). Persons who wish to be notified of a
NYSE–2018–31 on the subject line. ACTION: Notice. hearing may request notification by
Paper Comments writing to the Commission’s Secretary.
Notice of application for an order ADDRESSES: Secretary, U.S. Securities
• Send paper comments in triplicate under sections 17(d) and 57(i) of the and Exchange Commission, 100 F St.
to Secretary, Securities and Exchange Investment Company Act of 1940 (the NE, Washington, DC 20549–1090.
Commission, 100 F Street NE, ‘‘Act’’) and rule 17d–1 under the Act to Applicants: 345 Park Avenue, New
Washington, DC 20549–1090. permit certain joint transactions York, New York 10154.
All submissions should refer to File otherwise prohibited by sections 17(d)
FOR FURTHER INFORMATION CONTACT:
Number SR–NYSE–2018–31. This file and 57(a)(4) of the Act and rule 17d–1
under the Act. Asen Parachkevov, Senior Counsel, or
number should be included on the David J. Marcinkus, Branch Chief, at
subject line if email is used. To help the SUMMARY OF APPLICATION: Applicants
(202) 551–6821 (Chief Counsel’s Office,
Commission process and review your request an order to permit business Division of Investment Management).
comments more efficiently, please use development companies (‘‘BDCs’’) and
SUPPLEMENTARY INFORMATION: The
only one method. The Commission will closed-end management investment
companies to co-invest in portfolio following is a summary of the
post all comments on the Commission’s
companies with each other and with application. The complete application
internet website (http://www.sec.gov/
certain affiliated investment funds and may be obtained via the Commission’s
rules/sro.shtml). Copies of the
accounts. website by searching for the file
submission, all subsequent
number, or for an applicant using the
amendments, all written statements APPLICANTS: Blackstone/GSO Floating
Company name box, at http://
with respect to the proposed rule Rate Enhanced Income Fund
change that are filed with the (‘‘BGFREI’’); Blackstone/GSO Long- 1 The Existing Affiliated Funds, together with
Commission, and all written Short Credit Income Fund (‘‘BGX’’); their direct and indirect wholly-owned subsidiaries,
communications relating to the Blackstone/GSO Senior Floating Rate are entities (i) (A) whose primary investment
proposed rule change between the Term Fund (‘‘BSL’’); Blackstone/GSO adviser is a GSO Adviser or (B) whose primary
investment adviser is a registered investment
Commission and any person, other than Strategic Credit Fund (‘‘BGB’’); adviser that controls, is controlled by or is under
those that may be withheld from the Blackstone/GSO Secured Lending Fund common control with an Adviser (as defined
public in accordance with the (‘‘BGSL,’’ and together with BGFREI, below), but is itself not an Adviser (each, an
provisions of 5 U.S.C. 552, will be BGX, BSL, BGB, the ‘‘GSO Regulated ‘‘Existing Primary Adviser’’), and whose sub-
daltland on DSKBBV9HB2PROD with NOTICES
adviser is an Adviser (each, an ‘‘Existing Sub-
available for website viewing and Funds’’); GSO/Blackstone Debt Funds Advised Affiliated Fund’’) and (ii) that either (A)
printing in the Commission’s Public Management LLC (‘‘GDFM’’), the would be an investment company but for section
Reference Room, 100 F Street NE, investment adviser to BGFREI, BGX, 3(c)(1) or 3(c)(7) of the Act or (B) rely on the rule
Washington, DC 20549 on official BSL and BGB; GSO Asset Management 3a–7 exemption thereunder from investment
company status. The sole Existing Primary Adviser
business days between the hours of LLC (‘‘GAM’’), the proposed investment is BAS. Each of the Existing Sub-Advised Affiliated
10:00 a.m. and 3:00 p.m. Copies of the Funds are sub-advised by GSO Capital Partners LP,
filing also will be available for 12 17 CFR 200.30–3(a)(12). a GSO Adviser.
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Document Created: 2018-07-10 23:54:02
Document Modified: 2018-07-10 23:54:02
| 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 | 83 FR 32172 |
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