83 FR 4716 - Notice of Intention To Cancel Registrations of Certain Investment Advisers Pursuant to Section 203(h) of the Investment Advisors Act of 1940
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 22 (February 1, 2018)
Federal Register Volume 83, Issue 22 (February 1, 2018)
| Page Range | 4716-4718 | |
| FR Document | 2018-01948 |
[Federal Register Volume 83, Number 22 (Thursday, February 1, 2018)] [Notices] [Pages 4716-4718] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-01948] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Investment Advisers Act Release No. 4849] Notice of Intention To Cancel Registrations of Certain Investment Advisers Pursuant to Section 203(h) of the Investment Advisors Act of 1940 January 26, 2018. Notice is given that the Securities and Exchange Commission (the ``Commission'') intends to issue an order or orders, pursuant to Section 203(h) of the Investment Advisers Act of 1940 (the ``Act''), cancelling the registrations of the investment advisers whose names appear in the attached Appendix, hereinafter referred to as the ``registrants''. Section 203(h) of the Act provides, in pertinent part, that if the Commission finds that any person registered under Section 203, or who has pending an application for registration filed under that section, is no longer in existence, is not engaged in business as an investment adviser, or is prohibited from registering as an investment adviser under section 203A, the Commission shall by order cancel the registration of such person. Each registrant listed in the attached Appendix either (a) has not filed a Form ADV amendment with the Commission as required by rule 204- 1 under the Act and appears to be no longer in business as an investment adviser or (b) has indicated on Form ADV that it is no longer eligible to remain registered with the Commission as an investment adviser but has not filed Form ADV-W to withdraw its registration. Accordingly, the Commission believes that reasonable grounds exist for a finding that these registrants are no longer in existence, are not engaged in business as investment advisers, or are prohibited from registering as investment advisers under section 203A, and that their registrations should be cancelled pursuant to section 203(h) of the Act. Notice is also given that any interested person may, by February 26, 2018, at 5:30 p.m., submit to the Commission in writing a request for a hearing on the cancellation of the [[Page 4717]] registration of any registrant listed in the attached Appendix, accompanied by a statement as to the nature of such person's interest, the reason for such person's request, and the issues, if any, of fact or law proposed to be controverted, and the writer may request to be notified if the Commission should order a hearing thereon. Any such communication should be addressed to the SEC's Secretary at the address below. At any time after February 26, 2018, the Commission may issue an order or orders cancelling the registrations of any or all of the registrants listed in the attached Appendix, upon the basis of the information stated above, unless an order or orders for a hearing on the cancellation shall be issued upon request or upon the Commission's own motion. Persons who requested a hearing, or to be advised as to whether a hearing is ordered, will receive any notices and orders issued in this matter, including the date of the hearing (if ordered) and any postponements thereof. Any registrant whose registration is cancelled under delegated authority may appeal that decision directly to the Commission in accordance with rules 430 and 431 of the Commission's rules of practice (17 CFR 201.430 and 431). ADDRESSES: The Commission: Secretary, U.S. Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. FOR FURTHER INFORMATION CONTACT: Matthew Cook, Attorney Adviser, at 202-551-6999; SEC, Division of Investment Management, Office of Investment Adviser Regulation, 100 F Street NE, Washington, DC 20549- 8549. For the Commission, by the Division of Investment Management, pursuant to delegated authority.\1\ --------------------------------------------------------------------------- \1\ 17 CFR 200.30-5(e)(2). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. Appendix ---------------------------------------------------------------------------------------------------------------- SEC No. Full legal name ---------------------------------------------------------------------------------------------------------------- 801-29339........................ SUMMIT WEALTH MANAGEMENT. 801-31049........................ MFC ASSET MANAGEMENT PUBLIC COMPANY LIMITED. 801-34345........................ HUBER JOAN MACMONNIES. 801-55033........................ FFR ADVISORY LLC. 801-55695........................ HARTLAND ASSET MANAGEMENT CORP. 801-57335........................ PAN GEO INVESTMENT INC. 801-60497........................ GREENWICH ASSET MANAGEMENT GROUP, LLC. 801-60501........................ UA, LLC. 801-62656........................ PREMIERSOURCE LLC. 801-62767........................ STUX CAPITAL MANAGEMENT, LLC. 801-64854........................ CORESTATES CAPITAL ADVISORS, LLC. 801-65392........................ MCCONNELL ASSET MANAGEMENT LLC. 801-65693........................ TITAN CAPITAL GROUP III, LP. 801-65699........................ BINJAI HILL ASSET MANAGEMENT PTE LTD. 801-67444........................ CAMLIN ASSET MANAGEMENT, INC. 801-68936........................ WPN CORP. 801-69479........................ SUMMIT ASSET STRATEGIES WEALTH MANAGEMENT, LLC. 801-69850........................ ABLE ALPHA TRADING, LTD. 801-70243........................ LIGHTSTONE CAPITAL ADVISERS, LLC. 801-71630........................ HEXAM CAPITAL PARTNERS, LLP. 801-71642........................ LWA FUND ADVISORS, LLC. 801-72439........................ EMERGING MANAGERS GROUP, L.P. 801-72722........................ IGENERATIONS PRIVATE WEALTH MANAGEMENT. 801-72802........................ 401HARMONY LLC. 801-74225........................ NOGALES INVESTORS MANAGEMENT, LLC. 801-77991........................ PRAESTO INVESTMENT ADVISORS INC. 801-78030........................ VIRGINIA FINANCIAL INNOVATION CORP. 801-78054........................ ATF EXCHANGE, LLC. 801-78063........................ VIASOURCE FUNDING GROUP, LLC. 801-78432........................ HANMARU ASSET MANAGEMENT LLC. 801-78707........................ FINAPORT AMERICAS INVESTMENT ADVISERS, LLC. 801-78912........................ STERLING MARKETS LLC. 801-79102........................ SOUTHERN UTAH WEALTH NAVIGATION, LLC. 801-79138........................ TAM PORTFOLIOS, LLC. 801-79241........................ RCG CAPITAL MANAGEMENT, LLC. 801-79574........................ FRANCES, DOVI DOV. 801-79639........................ MERRIMAN ASSET MANAGEMENT, INC. 801-80111........................ GINKGO CAPITAL LIMITED. 801-80121........................ DBA APEX CAPITAL. 801-80126........................ GLOBAL SELECT ADVISORS LTD. 801-80237........................ ONEWALL ADVISORS UK LLP. 801-80333........................ NIGHTHAWK CAPITAL LIMITED. 801-80532........................ AVIV ASSET MANAGEMENT, LLC. 801-80773........................ D. L. WATSON & COMPANY, INC. 801-80849........................ HIGHTOWER FINANCIAL SOLUTIONS LLC. 801-80870........................ JUTLAND CAPITAL MANAGEMENT LTD. 801-96231........................ FFI ADVISORS LLC. 801-96242........................ PRO WEALTH ADVISORS LLC. 801-100366....................... PEERAGE NOBLE LLC. 801-106665....................... QUANTUMSHARES, LLC. 801-106838....................... FUNDAMENTAL CORPORATE CREDIT US LLC. [[Page 4718]] 801-106839....................... FUNDAMENTAL MANAGERS LLC. 801-107261....................... GRAHAM WEALTH ADVISORS, LLC. 801-108797....................... BETASMARTZ ADVISORY LLC. 801-110135....................... VEST TECHNOLOGIES, INC. ---------------------------------------------------------------------------------------------------------------- [FR Doc. 2018-01948 Filed 1-31-18; 8:45 am] BILLING CODE 8011-01-P
![4716 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices
the protection of investors or the public IV. Solicitation of Comments For the Commission, by the Division of
interest; (ii) impose any significant Trading and Markets, pursuant to delegated
burden on competition; and (iii) become Interested persons are invited to authority.13
operative for 30 days from the date on submit written data, views, and Robert W. Errett,
which it was filed, or such shorter time arguments concerning the foregoing, Deputy Secretary.
as the Commission may designate, it has including whether the proposed rule [FR Doc. 2018–01950 Filed 1–31–18; 8:45 am]
become effective pursuant to Section change is consistent with the Act. BILLING CODE 8011–01–P
19(b)(3)(A) of the Act 7 and Rule 19b– Comments may be submitted by any of
4(f)(6) thereunder.8 the following methods:
SECURITIES AND EXCHANGE
A proposed rule change filed Electronic Comments COMMISSION
pursuant to Rule 19b–4(f)(6) under the
Act 9 normally does not become • Use the Commission’s internet [Investment Advisers Act Release No. 4849]
operative for 30 days after the date of its comment form (http://www.sec.gov/
rules/sro.shtml); or Notice of Intention To Cancel
filing. However, Rule 19b–4(f)(6)(iii) 10 Registrations of Certain Investment
permits the Commission to designate a • Send an email to rule-comments@ Advisers Pursuant to Section 203(h) of
shorter time if such action is consistent sec.gov. Please include File Number SR– the Investment Advisors Act of 1940
with the protection of investors and the NASDAQ–2018–006 on the subject line.
public interest. The Exchange has asked January 26, 2018.
Paper Comments Notice is given that the Securities and
the Commission to waive the 30-day
Exchange Commission (the
operative delay so that the proposal may • Send paper comments in triplicate
become operative immediately upon ‘‘Commission’’) intends to issue an
to Secretary, Securities and Exchange
filing. As noted above, NYSE Arca, Inc. order or orders, pursuant to Section
Commission, 100 F Street NE, 203(h) of the Investment Advisers Act of
has already adopted a substantively Washington, DC 20549–1090.
identical change to its rules.11 1940 (the ‘‘Act’’), cancelling the
According to the Exchange, the All submissions should refer to File registrations of the investment advisers
Number SR–NASDAQ–2018–006. This whose names appear in the attached
proposed rule change will put the
file number should be included on the Appendix, hereinafter referred to as the
Exchange on an equal competitive
subject line if email is used. To help the ‘‘registrants’’.
footing with respect to sub-penny Section 203(h) of the Act provides, in
quoting and order entry for Managed Commission process and review your
pertinent part, that if the Commission
Fund Shares priced less than $1.00. The comments more efficiently, please use
finds that any person registered under
Commission believes that waiving the only one method. The Commission will
Section 203, or who has pending an
30-day operative delay is consistent post all comments on the Commission’s application for registration filed under
with the protection of investors and the internet website (http://www.sec.gov/ that section, is no longer in existence, is
public interest. Therefore, the rules/sro.shtml). Copies of the not engaged in business as an
Commission hereby waives the 30-day submission, all subsequent investment adviser, or is prohibited
operative delay and designates the amendments, all written statements from registering as an investment
proposal operative upon filing.12 with respect to the proposed rule adviser under section 203A, the
At any time within 60 days of the change that are filed with the Commission shall by order cancel the
filing of the proposed rule change, the Commission, and all written registration of such person.
Commission summarily may communications relating to the Each registrant listed in the attached
temporarily suspend such rule change if proposed rule change between the Appendix either (a) has not filed a Form
it appears to the Commission that such Commission and any person, other than ADV amendment with the Commission
action is necessary or appropriate in the those that may be withheld from the as required by rule 204–1 under the Act
public interest, for the protection of public in accordance with the and appears to be no longer in business
investors, or otherwise in furtherance of provisions of 5 U.S.C. 552, will be as an investment adviser or (b) has
the purposes of the Act. If the available for website viewing and indicated on Form ADV that it is no
Commission takes such action, the printing in the Commission’s Public longer eligible to remain registered with
Commission shall institute proceedings Reference Room, 100 F Street NE, the Commission as an investment
to determine whether the proposed rule Washington, DC 20549 on official adviser but has not filed Form ADV–W
change should be approved or business days between the hours of to withdraw its registration.
10:00 a.m. and 3:00 p.m. Copies of the Accordingly, the Commission believes
disapproved.
filing also will be available for that reasonable grounds exist for a
finding that these registrants are no
7 15 U.S.C. 78s(b)(3)(A). inspection and copying at the principal
longer in existence, are not engaged in
8 17 CFR 240.19b–4(f)(6). As required under Rule office of the Exchange. All comments
19b–4(f)(6)(iii), the Exchange provided the business as investment advisers, or are
received will be posted without change. prohibited from registering as
Commission with written notice of its intent to file
the proposed rule change, along with a brief Persons submitting comments are investment advisers under section
description and the text of the proposed rule cautioned that we do not redact or edit 203A, and that their registrations should
change, at least five business days prior to the date personal identifying information from
of filing of the proposed rule change, or such be cancelled pursuant to section 203(h)
comment submissions. You should
sradovich on DSK3GMQ082PROD with NOTICES
shorter time as designated by the Commission. of the Act.
9 17 CFR 240.19b–4(f)(6). submit only information that you wish Notice is also given that any
10 17 CFR 240.19b–4(f)(6)(iii). to make available publicly. All interested person may, by February 26,
11 See supra note 3 and accompanying text.
submissions should refer to File 2018, at 5:30 p.m., submit to the
12 For purposes only of waiving the 30-day
Number SR–NASDAQ–2018–006 and Commission in writing a request for a
operative delay, the Commission has also
considered the proposed rule’s impact on should be submitted on or before hearing on the cancellation of the
efficiency, competition, and capital formation. See February 22, 2018.
15 U.S.C. 78c(f). 13 17 CFR 200.30–3(a)(12).
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![4718 Federal Register / Vol. 83, No. 22 / Thursday, February 1, 2018 / Notices
SEC No. Full legal name
801–106839 .............................................................................................................. FUNDAMENTAL MANAGERS LLC.
801–107261 .............................................................................................................. GRAHAM WEALTH ADVISORS, LLC.
801–108797 .............................................................................................................. BETASMARTZ ADVISORY LLC.
801–110135 .............................................................................................................. VEST TECHNOLOGIES, INC.
[FR Doc. 2018–01948 Filed 1–31–18; 8:45 am] The Shares will represent units of III. Discussion and Commission
BILLING CODE 8011–01–P fractional undivided beneficial interest Findings
in and ownership of the Trust. The After careful review, the Commission
Trust’s primary objective will be to finds that the Exchange’s proposed rule
SECURITIES AND EXCHANGE provide investors with an opportunity change to list and trade the Shares is
COMMISSION to invest in gold through the Shares, consistent with the Act and the rules
[Release No. 34–82593; File No. SR– have the gold securely stored by Gold and regulations thereunder applicable to
NYSEArca–2017–140] Corporation and, if requested by an a national securities exchange.11 In
investor, deliver Physical Gold 7 to such particular, the Commission finds that
Self-Regulatory Organizations; NYSE investor in exchange for its Shares.8 the proposal is consistent with Section
Arca, Inc.; Order Approving a 11A(a)(1)(C)(iii) of the Act,12 which sets
Proposed Rule Change To List and The sponsors of the Trust will be Gold
forth Congress’ finding that it is in the
Trade Shares of the Perth Mint Corporation (‘‘Custodial Sponsor’’) and
public interest and appropriate for the
Physical Gold ETF Trust Pursuant to Exchange Traded Concepts, LLC (‘‘ETC’’ protection of investors and the
NYSE Arca Rule 8.201–E or the ‘‘Administrative Sponsor’’ and, maintenance of fair and orderly markets
together with the Custodial Sponsor, the to assure the availability to brokers,
January 26, 2018. ‘‘Sponsors’’) 9 and Gold Corporation will dealers, and investors of information
I. Introduction also serve as custodian of the Trust’s with respect to quotations for and
gold bullion (in such capacity, transactions in securities. The last-sale
On December 11, 2017, NYSE Arca, ‘‘Custodian’’).10
Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed price for the Shares will be
disseminated over the Consolidated
with the Securities and Exchange
issued by such trust in a specified aggregate Tape. There is a considerable amount of
Commission (‘‘Commission’’), pursuant minimum number in return for a deposit of a information about gold and gold
to Section 19(b)(1) of the Securities quantity of the underlying commodity; and (c) that, markets available on public websites
Exchange Act of 1934 (‘‘Act’’) 1 and Rule when aggregated in the same specified minimum
number, may be redeemed at a holder’s request by and through professional and
19b–4 thereunder,2 a proposed rule
such trust which will deliver to the redeeming subscription services. Investors may
change to list and trade shares
holder the quantity of the underlying commodity. obtain gold pricing information on a 24-
(‘‘Shares’’) of the Perth Mint Physical See NYSE Arca Equities Rule 8.201(c)(1). hour basis based on the spot price for an
Gold ETF Trust (‘‘Trust’’) under NYSE 7 ‘‘Physical Gold’’ is defined as London Bars and
ounce of gold from various financial
Arca Equities Rule 8.201–E. The all gold products without numismatic value and
information service providers.13
proposed rule change was published for having a gold purity of at least 99.5% (including
Additionally, the Commission finds
comment in the Federal Register on coins, cast bars and minted bars).
8 According to the Registration Statement, the that the proposed rule change is
December 28, 2017.3 The Commission Trust does not trade in gold futures contracts on consistent with Section 6(b)(5) of the
has not received any comments on the COMEX or on any other futures exchange. Because Exchange Act,14 which requires, among
proposed rule change. This order the Trust does not trade in gold futures contracts other things, that the Exchange’s rules
approves the proposed rule change. on any futures exchange, the Trust is not regulated
be designed to prevent fraudulent and
by the CFTC under the Commodity Exchange Act
II. The Description of the Proposed as a ‘‘commodity pool,’’ and is not operated by a manipulative acts and practices,
Rule Change 4 CFTC-regulated commodity pool operator. Investors promote just and equitable principles of
in the Trust do not receive the regulatory trade, to remove impediments to and
The Exchange proposes to list and protections afforded to investors in regulated
trade the Shares under NYSE Arca commodity pools, nor may COMEX or any futures 11 In approving this proposed rule change, the
Equities Rule 8.201–E,5 which governs exchange enforce its rules with respect to the
Commission has considered the proposed rule’s
Trust’s activities. In addition, investors in the Trust
the listing and trading of Commodity- do not benefit from the protections afforded to
impact on efficiency, competition, and capital
Based Trust Shares on the Exchange.6 formation. See 15 U.S.C. 78c(f).
investors in gold futures contracts on regulated 12 15 U.S.C. 78k–1(a)(1)(C)(iii).
futures exchanges. 13 The Exchange states that Reuters and
1 15 U.S.C. 78s(b)(1). 9 Gold Corporation, doing business as the Perth
Bloomberg, for example, provide at no charge on
2 17 CFR 240.19b–4. Mint, is a Western Australian Government owned their websites delayed information regarding the
3 See Securities Exchange Act Release No. 82372 statutory body corporate established by the Gold spot price of Gold and last sale prices of gold
(Dec. 21, 2017), 82 FR 61601 (‘‘Notice’’). Corporation Act 1987 (Western Australia). ETC is futures, as well as information about news and
4 A more detailed description of the Trust and the an Oklahoma limited liability company majority developments in the gold market. Reuters and
Shares, as well as investment risks, Share creation owned by Cottonwood ETF Holdings LLC. ETC is Bloomberg also offer a professional service to
procedures for authorized participants, Share a registered investment adviser and provides subscribers for a fee that provides information on
redemption procedures for authorized participants investment advisory services to domestic and gold prices directly from market participants.
and certain beneficial owners, NAV calculation, international equity and fixed income ETFs. Complete real-time data for gold futures and
availability of information and fees, among other 10 As Custodian of the Trust’s gold bullion, Gold
options prices traded on the COMEX are available
sradovich on DSK3GMQ082PROD with NOTICES
things, is included in the Registration Statement, Corporation will be responsible for the safekeeping by subscription from Reuters and Bloomberg. There
infra note 5. of the Trust’s gold and supplying inventory are a variety of other public websites providing
5 On August 30, 2017, the Trust submitted to the information to the Trustee and the Sponsors. The information on gold, ranging from those
Commission its draft registration statement on Form Custodian will also be responsible for facilitating specializing in precious metals to sites maintained
S–1 (‘‘Registration Statement’’) under the Securities the transfer of gold in and out of the Trust and by major newspapers. In addition, the LBMA Gold
Act of 1933 (15 U.S.C. 77a). facilitating the shipment of Physical Gold to Price is publicly available at no charge at
6 A ‘‘Commodity-Based Trust Share’’ is a security Delivery any beneficial owner (who is not an www.lbma.org.uk. See Notice, supra note 3, 82 FR
(a) that is issued by a trust that holds a specified authorized participant) who wishes to surrender at 61605.
commodity deposited with the trust; (b) that is Shares in exchange for Physical Gold. 14 15 U.S.C. 78f(b)(5).
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Document Created: 2018-10-26 13:46:26
Document Modified: 2018-10-26 13:46:26
| 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 | |
| Contact | Matthew Cook, Attorney Adviser, at 202-551-6999; SEC, Division of Investment Management, Office of Investment Adviser Regulation, 100 F Street NE, Washington, DC 20549- 8549. | |
| FR Citation | 83 FR 4716 |
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