Barclays Global Fund Advisors, et al.; Notice of Application, 33006-33007 [E6-8803]
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33006
Federal Register / Vol. 71, No. 109 / Wednesday, June 7, 2006 / Notices
Public Interest Contribution (EPIC)
Awards.
OMB Number: 1215–0201.
Affected Public: Business or other forprofit, not-for-profit institutions.
Total Respondents/Responses: 39.
Total Annual responses: 39.
Frequency: Annually.
Estimated Total Burden Hours: 4,460.
Total Burden Cost (capital/startup):
$0.
Total Burden Cost (operating/
maintenance): $0.
Comments submitted in response to
this notice will be summarized and/or
included in the request for Office of
Management and Budget approval of the
information collection request; they will
also become a matter of public record.
Dated: June 2, 2006.
Ruben L. Wiley,
Chief, Branch of Management Review and
Internal Control, Division of Financial
Management, Office of Management,
Administration and Planning, Employment
Standards Administration.
[FR Doc. E6–8797 Filed 6–6–06; 8:45 am]
5 p.m., Friday, June 23, 2006. Such
statements must be typewritten, doublespaced, and may not exceed twenty-five
(25) pages.
Upon receipt of the required notice.
OPIC will prepare an agenda for the
hearing identifying speakers, setting
forth the subject on which each
participant will speak, and the time
allotted for each presentation. The
agenda will be available at the hearing.
A written summary of the hearing will
be compiled, and such summary will be
made available upon written request to
OPIC’s Corporate Secretary, at the cost
of reproduction.
FOR FURTHER INFORMATION CONTACT:
Information on the hearing may be
obtained from Connie M. Downs at (202)
336–8438, via facsimile at (202) 218–
0136, or via e-mail at cdown@opic.gov.
Dated: June 5, 2006.
Connie M. Downs,
OPIC Corporate Secretary.
[FR Doc. 06–5224 Filed 6–5–06; 12:30 pm]
BILLING CODE 3210–01–M
BILLING CODE 4520–CM–P
SECURITIES AND EXCHANGE
COMMISSION
OVERSEAS PRIVATE INVESTMENT
CORPORATION
July 6, 2006, Public Hearing; Sunshine
Act
TIME AND DATE:
2 p.m., Thursday, July 6,
[Investment Company Act Release No.
27387; 812–13285]
Barclays Global Fund Advisors, et al.;
Notice of Application
2006.
June 1, 2006.
Offices of the Corporation,
Twelfth Floor Board Room, 1100 New
York Avenue, NW., Washington, DC.
STATUS: Hearing open to the Public at 2
p.m.
PURPOSE: Public Hearing in conjunction
with each meeting of OPIC’s Board of
Directors, to afford and opportunity for
any person to present views regarding
the activities of the Corporation.
PROCEDURES: Individuals wishing to
address the hearing orally must provide
advance notice to OPIC’s Corporate
Secretary no later than 5 p.m., Friday,
June 23, 2006. The notice must include
the individual’s name, title,
organization, address, and telephone
number, and a concise summary oft he
subject matter to be presented.
Oral presentations may not exceed ten
(10) minutes. The time for individual
presentations may be reduced
proportionately, if necessary, to afford
all participants who have submitted a
timely request to participate an
opportunity to be heard.
Participants wishing to submit a
written statement for the record must
submit a copy of such statement to
OPIC’s Corporate Secretary no later than
AGENCY:
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PLACE:
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17:54 Jun 06, 2006
Jkt 208001
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of an application to
amend a prior order under section 6(c)
of the Investment Company Act of 1940
(‘‘Act’’) granting an exemption from
sections 2(a)(32), 5(a)(1), and 22(d) of
the Act and rule 22c–1 under the Act,
and under sections 6(c) and 17(b) of the
Act granting an exemption from sections
17(a)(1) and (a)(2) of the Act.
Summary of Application: Applicants
request an order to amend a prior order
that permits: (a) An open-end
management investment company that
includes series based on certain fixedincome securities indices to issue shares
of limited redeemability; (b) secondary
market transactions in the shares of the
series to occur at negotiated prices; and
(c) affiliated persons of the series to
deposit securities into, and receive
securities from, the series in connection
with the purchase and redemption of
aggregations of the series’ shares (‘‘Prior
Order’’).1 Applicants seek to amend the
1 Barclays
Global Fund Advisors, et al.,
Investment Company Act Release No. Release No.
(June 25, 2002), as subsequently amended by
PO 00000
Frm 00094
Fmt 4703
Sfmt 4703
Prior Order in order to offer two
additional series based on fixed-income
securities indices (each series, a ‘‘New
Fund’’).
Applicants: Barclays Global Fund
Advisors (‘‘Adviser’’), iShares Trust
(‘‘Trust’’) and SEI Investments
Distribution Co. (‘‘Distributor’’).
Filing Dates: The application was
filed on April 20, 2006 and amended on
May 24, 2006.
Hearing or Notification of Hearing: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on June 22, 2006 and
should be accompanied by proof of
service on applicants, in the form of an
affidavit or, for lawyers, a certificate of
service. Hearing requests should state
the nature of the writer’s interest, the
reason for the request, and the issues
contested. Persons may request
notification of a hearing by writing to
the Commission’s Secretary.
ADDRESSES: Secretary, U.S. Securities
and Exchange Commission, 100 F
Street, NE., Washington, DC 20549–
1090. Applicants: Ira Shapiro, Barclays
Global Fund Advisors, c/o Barclays
Global Investors, N.A., 45 Fremont
Street, San Francisco, CA 94105; Peter
Kronberg, iShares Trust, c/o Investors
Bank & Trust Company, 200 Clarendon
Street, Boston, MA 02116; and John
Munch, SEI Investments Distribution
Co., One Freedom Valley Drive, Oaks,
PA 19456.
FOR FURTHER INFORMATION CONTACT:
Laura J. Riegel, Senior Counsel, at (202)
551–6873, or Michael W. Mundt, Senior
Special Counsel, at (202) 551–6821
(Division of Investment Management).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained for a fee at the
Commission’s Public Reference Branch,
100 F Street, NE., Washington, DC
20549–0102 (tel. 202–551–5850).
Applicants’ Representations
1. The Trust is an open-end
management investment company
registered under the Act and established
in the state of Delaware. The Trust is
organized as a series fund with multiple
series. The Adviser, an investment
iShares Trust, et al., Investment Company Act
Release No. 26006 (April 15, 2003) and Barclays
Global Fund Advisors, et al., Investment Company
Act Release No. 26175 (September 8, 2003).
E:\FR\FM\07JNN1.SGM
07JNN1
Federal Register / Vol. 71, No. 109 / Wednesday, June 7, 2006 / Notices
adviser registered under the Investment
Advisers Act of 1940, serves as
investment adviser to each New Fund.
The Distributor, a broker-dealer
unaffiliated with the Adviser and
registered under the Securities
Exchange Act of 1934, serves as the
principal underwriter for the Trust.
2. The Trust is currently permitted to
offer several series based on fixedincome securities indices in reliance on
the Prior Order. Applicants seek to
amend the Prior Order to permit the
Trust to offer the two New Funds, each
of which, except as described in the
application, would operate in a manner
identical to the existing series of the
Trust that are subject to the Prior
Order.2
3. Each New Fund will invest in a
portfolio of securities generally
consisting of the component securities
of a specified U.S. bond index (each, an
‘‘Underlying Index’’).3 No entity that
creates, compiles, sponsors, or
maintains an Underlying Index is or
will be an affiliated person, as defined
in section 2(a)(3) of the Act, or an
affiliated person of an affiliated person,
of the Trust, the Adviser, the
Distributor, or a promoter of a New
Fund.
4. Each Underlying Index contains
fixed-income securities that are eligible
for inclusion in the underlying index for
an existing series of the Trust that is
subject to the Prior Order 4 The 1–3 Year
Credit Index represents that portion of
the Aggregate Index consisting of U.S.
investment grade bonds that have a
remaining maturity of 1 to 3 years. The
MBS Index represents that portion of
the Aggregate Index consisting of U.S.
agency mortgage pass-through
securities. As with the Aggregate Bond
Fund, the New Fund that would be
based on the MBS Index (‘‘MBS Fund’’)
intends to use ‘‘to-be-announced’’
(‘‘TBA’’) transactions and, in some
cases, invest directly in U.S. agency
mortgage pass-through securities, to
track the performance of U.S. agency
mortgage pass-through securities.5
rwilkins on PROD1PC63 with NOTICES
2 If
the amended order is granted, the New Funds
would also be able to rely on an exemptive order
granting certain relief from section 24(d) of the Act
to the existing series of the Trust that are subject
to the Prior Order. See iShares, Inc., et al.,
Investment Company Act Release No. 25623 (June
25, 2002) (order).
3 The Underlying Indices for the New Funds are
Lehman Brothers 1–3 Year U.S. Credit Index (‘‘1–
3 Year Credit Index’’) and Lehman Brothers U.S.
MBS Fixed Rate Index (‘‘MBS Index’’).
4 The Lehman Brothers U.S. Aggregate Index
(‘‘Aggregate Index’’) is the underlying index of
iShares U.S. Aggregate Bond Fund (‘‘Aggregate
Fund’’).
5 ‘‘TBA’’ refers to a mechanism for the forward
settlement of United States agency mortgage-pass
through securities that permits the United States
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17:54 Jun 06, 2006
Jkt 208001
5. The investment objective of each
New Fund will be to provide investment
results that correspond generally to the
price and yield performance of its
relevant Underlying Index. Each New
Fund will utilize as an investment
approach a representative sampling
strategy where each New Fund will seek
to hold a representative sample of the
component securities of the Underlying
Index. The New Fund that would track
the 1–3 Year Credit Index will invest at
least 90% of its assets in the component
securities of its Underlying Index and
may invest the remainder of its assets in
certain futures, options, and swap
contracts, cash and cash equivalents,
and in bonds not included in its
Underlying Index which the Adviser
believes will help the New Fund track
its Underlying Index. The MBS Fund
will have at least 90% of its assets
invested in: (a) Component securities of
its Underlying Index and (b)
investments that have economic
characteristics that are substantially
identical to the economic characteristics
of the component securities of its
Underlying Index (i.e., the TBAs, as
discussed above).6 The MBS Fund may
invest the remainder of its assets in
certain futures, options, and swap
contracts, cash and cash equivalents,
and in bonds not included in its
Underlying Index which the Adviser
believes will help the New Fund track
its Underlying Index. Applicants expect
that each New Fund will have a tracking
error relative to the performance of its
respective Underlying Index of no more
than 5 percent.
6. Applicants state that all discussions
contained in the application for the
Prior Order are equally applicable to the
New Funds, except as specifically noted
by applicants (as summarized above).
Applicants agree that the amended
order will subject applicants to the same
conditions as imposed by the Prior
Order. Applicants believe that the
requested relief continues to meet the
necessary exemptive standards.
agency mortgage-pass through securities to be
traded interchangeably pursuant to commonly
observed settlement and delivery requirements.
Applicants state that the use of TBA transactions
permits investors to obtain exposure to U.S. agency
mortgage pass-through securities, while promoting
liquidity and price transparency.
6 As with the process used by the Aggregate Fund,
the MBS Fund may accept delivery of a specified
amount of ‘‘cash-in-lieu’’ of delivery of the
designated U.S. agency mortgage pass-through
securities or TBAs. This practice could result in
cash-only creations and redemptions. Applicants do
not believe that the acceptance of ‘‘cash-in-lieu’’ of
U.S. agency mortgage pass-through securities or
TBAs on a regular basis by the MBS Fund presents
any material or unforeseen operation issues or will
otherwise have a negative impact on the operation
of the MBS Fund or the secondary market trading
of shares of the MBS Fund.
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
33007
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–8803 Filed 6–6–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53908]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC;
Declaration of Effectiveness of the
Fingerprint Plan of the NASDAQ Stock
Market LLC
May 31, 2006.
On May 30, 2006, the NASDAQ Stock
Market LLC (‘‘Nasdaq’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’ or ‘‘SEC’’) a fingerprint
plan (‘‘Plan’’) pursuant to Rule 17f–
2(c) 1 under the Securities Exchange Act
of 1934 (‘‘Act’’).2
Nasdaq believes that the Plan will
facilitate compliance by Nasdaq
members and Nasdaq member
applicants (together, ‘‘participants’’)
with section 17(f)(2) of the Exchange
Act and Rule 17f–2 thereunder, by
providing a facility for participants to
have the fingerprints of their partners,
directors, officers, and employees
processed by the Attorney General of
the United States or his designee
(‘‘Attorney General’’).
The Plan will be administered for
Nasdaq by NASD Regulation, Inc.
(‘‘NASDR’’) and the National
Association of Securities Dealers, Inc.
(‘‘NASD’’), the parent corporation of
NASDR, pursuant to a regulatory
services agreement between NASDR and
Nasdaq (the ‘‘Regulatory Contract’’). The
Commission notes that, notwithstanding
the fact that Nasdaq has entered into the
Regulatory Contract to have NASDR
perform some of Nasdaq’s functions,
Nasdaq shall retain ultimate legal
responsibility for, and control of, such
functions.
Under the Plan, participants submit
fingerprints and identifying
information, on paper or electronically,
to the NASD, which then forwards the
cards to the Federal Bureau of
Investigation (‘‘FBI’’) (the fingerprint
processing arm of the Attorney General).
The FBI identifies submitted
fingerprints, retrieves relevant criminal
history information, and returns
fingerprint reports (including the
original paper fingerprint cards, if any)
1 17
2 15
E:\FR\FM\07JNN1.SGM
CFR 240.17f–2(c).
U.S.C. 78a et seq.
07JNN1
]]>Agencies
[Federal Register Volume 71, Number 109 (Wednesday, June 7, 2006)]
[Notices]
[Pages 33006-33007]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-8803]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 27387; 812-13285]
Barclays Global Fund Advisors, et al.; Notice of Application
June 1, 2006.
AGENCY: Securities and Exchange Commission (``Commission'').
ACTION: Notice of an application to amend a prior order under section
6(c) of the Investment Company Act of 1940 (``Act'') granting an
exemption from sections 2(a)(32), 5(a)(1), and 22(d) of the Act and
rule 22c-1 under the Act, and under sections 6(c) and 17(b) of the Act
granting an exemption from sections 17(a)(1) and (a)(2) of the Act.
-----------------------------------------------------------------------
Summary of Application: Applicants request an order to amend a prior
order that permits: (a) An open-end management investment company that
includes series based on certain fixed-income securities indices to
issue shares of limited redeemability; (b) secondary market
transactions in the shares of the series to occur at negotiated prices;
and (c) affiliated persons of the series to deposit securities into,
and receive securities from, the series in connection with the purchase
and redemption of aggregations of the series' shares (``Prior
Order'').\1\ Applicants seek to amend the Prior Order in order to offer
two additional series based on fixed-income securities indices (each
series, a ``New Fund'').
---------------------------------------------------------------------------
\1\ Barclays Global Fund Advisors, et al., Investment Company
Act Release No. Release No. (June 25, 2002), as subsequently amended
by iShares Trust, et al., Investment Company Act Release No. 26006
(April 15, 2003) and Barclays Global Fund Advisors, et al.,
Investment Company Act Release No. 26175 (September 8, 2003).
Applicants: Barclays Global Fund Advisors (``Adviser''), iShares Trust
(``Trust'') and SEI Investments Distribution Co. (``Distributor'').
Filing Dates: The application was filed on April 20, 2006 and
amended on May 24, 2006.
Hearing or Notification of Hearing: An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on June 22, 2006 and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons may request notification of a hearing by writing to
the Commission's Secretary.
ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street, NE., Washington, DC 20549-1090. Applicants: Ira Shapiro,
Barclays Global Fund Advisors, c/o Barclays Global Investors, N.A., 45
Fremont Street, San Francisco, CA 94105; Peter Kronberg, iShares Trust,
c/o Investors Bank & Trust Company, 200 Clarendon Street, Boston, MA
02116; and John Munch, SEI Investments Distribution Co., One Freedom
Valley Drive, Oaks, PA 19456.
FOR FURTHER INFORMATION CONTACT: Laura J. Riegel, Senior Counsel, at
(202) 551-6873, or Michael W. Mundt, Senior Special Counsel, at (202)
551-6821 (Division of Investment Management).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee at the
Commission's Public Reference Branch, 100 F Street, NE., Washington, DC
20549-0102 (tel. 202-551-5850).
Applicants' Representations
1. The Trust is an open-end management investment company
registered under the Act and established in the state of Delaware. The
Trust is organized as a series fund with multiple series. The Adviser,
an investment
[[Page 33007]]
adviser registered under the Investment Advisers Act of 1940, serves as
investment adviser to each New Fund. The Distributor, a broker-dealer
unaffiliated with the Adviser and registered under the Securities
Exchange Act of 1934, serves as the principal underwriter for the
Trust.
2. The Trust is currently permitted to offer several series based
on fixed-income securities indices in reliance on the Prior Order.
Applicants seek to amend the Prior Order to permit the Trust to offer
the two New Funds, each of which, except as described in the
application, would operate in a manner identical to the existing series
of the Trust that are subject to the Prior Order.\2\
---------------------------------------------------------------------------
\2\ If the amended order is granted, the New Funds would also be
able to rely on an exemptive order granting certain relief from
section 24(d) of the Act to the existing series of the Trust that
are subject to the Prior Order. See iShares, Inc., et al.,
Investment Company Act Release No. 25623 (June 25, 2002) (order).
---------------------------------------------------------------------------
3. Each New Fund will invest in a portfolio of securities generally
consisting of the component securities of a specified U.S. bond index
(each, an ``Underlying Index'').\3\ No entity that creates, compiles,
sponsors, or maintains an Underlying Index is or will be an affiliated
person, as defined in section 2(a)(3) of the Act, or an affiliated
person of an affiliated person, of the Trust, the Adviser, the
Distributor, or a promoter of a New Fund.
---------------------------------------------------------------------------
\3\ The Underlying Indices for the New Funds are Lehman Brothers
1-3 Year U.S. Credit Index (``1-3 Year Credit Index'') and Lehman
Brothers U.S. MBS Fixed Rate Index (``MBS Index'').
---------------------------------------------------------------------------
4. Each Underlying Index contains fixed-income securities that are
eligible for inclusion in the underlying index for an existing series
of the Trust that is subject to the Prior Order \4\ The 1-3 Year Credit
Index represents that portion of the Aggregate Index consisting of U.S.
investment grade bonds that have a remaining maturity of 1 to 3 years.
The MBS Index represents that portion of the Aggregate Index consisting
of U.S. agency mortgage pass-through securities. As with the Aggregate
Bond Fund, the New Fund that would be based on the MBS Index (``MBS
Fund'') intends to use ``to-be-announced'' (``TBA'') transactions and,
in some cases, invest directly in U.S. agency mortgage pass-through
securities, to track the performance of U.S. agency mortgage pass-
through securities.\5\
---------------------------------------------------------------------------
\4\ The Lehman Brothers U.S. Aggregate Index (``Aggregate
Index'') is the underlying index of iShares U.S. Aggregate Bond Fund
(``Aggregate Fund'').
\5\ ``TBA'' refers to a mechanism for the forward settlement of
United States agency mortgage-pass through securities that permits
the United States agency mortgage-pass through securities to be
traded interchangeably pursuant to commonly observed settlement and
delivery requirements. Applicants state that the use of TBA
transactions permits investors to obtain exposure to U.S. agency
mortgage pass-through securities, while promoting liquidity and
price transparency.
---------------------------------------------------------------------------
5. The investment objective of each New Fund will be to provide
investment results that correspond generally to the price and yield
performance of its relevant Underlying Index. Each New Fund will
utilize as an investment approach a representative sampling strategy
where each New Fund will seek to hold a representative sample of the
component securities of the Underlying Index. The New Fund that would
track the 1-3 Year Credit Index will invest at least 90% of its assets
in the component securities of its Underlying Index and may invest the
remainder of its assets in certain futures, options, and swap
contracts, cash and cash equivalents, and in bonds not included in its
Underlying Index which the Adviser believes will help the New Fund
track its Underlying Index. The MBS Fund will have at least 90% of its
assets invested in: (a) Component securities of its Underlying Index
and (b) investments that have economic characteristics that are
substantially identical to the economic characteristics of the
component securities of its Underlying Index (i.e., the TBAs, as
discussed above).\6\ The MBS Fund may invest the remainder of its
assets in certain futures, options, and swap contracts, cash and cash
equivalents, and in bonds not included in its Underlying Index which
the Adviser believes will help the New Fund track its Underlying Index.
Applicants expect that each New Fund will have a tracking error
relative to the performance of its respective Underlying Index of no
more than 5 percent.
---------------------------------------------------------------------------
\6\ As with the process used by the Aggregate Fund, the MBS Fund
may accept delivery of a specified amount of ``cash-in-lieu'' of
delivery of the designated U.S. agency mortgage pass-through
securities or TBAs. This practice could result in cash-only
creations and redemptions. Applicants do not believe that the
acceptance of ``cash-in-lieu'' of U.S. agency mortgage pass-through
securities or TBAs on a regular basis by the MBS Fund presents any
material or unforeseen operation issues or will otherwise have a
negative impact on the operation of the MBS Fund or the secondary
market trading of shares of the MBS Fund.
---------------------------------------------------------------------------
6. Applicants state that all discussions contained in the
application for the Prior Order are equally applicable to the New
Funds, except as specifically noted by applicants (as summarized
above). Applicants agree that the amended order will subject applicants
to the same conditions as imposed by the Prior Order. Applicants
believe that the requested relief continues to meet the necessary
exemptive standards.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-8803 Filed 6-6-06; 8:45 am]
BILLING CODE 8010-01-P
