Sunshine Act Meetings, 69149-69150 [06-9474]

Download as PDF Federal Register / Vol. 71, No. 229 / Wednesday, November 29, 2006 / Notices jlentini on PROD1PC65 with NOTICES 7. When a change of Portfolio Manager is proposed for a Portfolio with an Affiliated Portfolio Manager, the Board, including a majority of the Independent Trustees, will make a separate finding, reflected in the minutes of the meeting of the Board, that such change is in the best interests of the Portfolio and its shareholders and does not involve a conflict of interest from which the Adviser or the Affiliated Portfolio Manager derives an inappropriate advantage. 8. Whenever a Portfolio Manager is hired or terminated, the Adviser will provide the Board with information showing the expected impact on the Adviser’s profitability. 9. The Adviser will provide general management services to each Portfolio, including overall supervisory responsibility for the general management and investment of the Portfolio’s assets, and, subject to review and approval of the Board, will: (a) Set each Portfolio’s overall investment strategies; (b) evaluate, select and recommend Portfolio Managers to manage all or part of a Portfolio’s assets; (c) allocate and, when appropriate, reallocate a Portfolio’s assets among multiple Portfolio Managers; (d) monitor and evaluate the performance of Portfolio Managers; and (e) implement procedures reasonably designed to ensure that the Portfolio Managers comply with each Portfolio’s investment objective, policies and restrictions. 10. No trustee or officer of the Portfolios, or director or officer of the Adviser will own directly or indirectly (other than through a pooled investment vehicle that is not controlled by such person) any interest in a Portfolio Manager, except for: (a) Ownership of interests in the Adviser or any entity that controls, is controlled by, or is under common control with the Adviser; or (b) ownership of less than 1% of the outstanding securities of any class of equity or debt of any publicly traded company that is either a Portfolio Manager or an entity that controls, is controlled by, or is under common control with a Portfolio Manager. 11. Each Portfolio will include in its registration statement the Aggregate Fee Disclosure. 12. The requested order will expire on the effective date of rule 15a–5 under the Act, if adopted. For the Commission, by the Division of Investment Management, under delegated authority. Nancy M. Morris, Secretary. [FR Doc. E6–20213 Filed 11–28–06; 8:45 am] BILLING CODE 8011–01–P VerDate Aug<31>2005 15:37 Nov 28, 2006 Jkt 211001 SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: [71 FR 68645, November 27, 2006]. Closed meeting. PLACE: 100 F Street, NE., Washington, DC. STATUS: ANNOUNCEMENT OF ADDITIONAL MEETING: Additional meeting (Week of November 27, 2006). A closed meeting has been scheduled for Thursday, November 30, 2006 at 2 p.m. Commissioners and certain staff members who have an interest in the matter will attend the closed meeting. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(5), (7), (9)(B) and (10) and 17 CFR 200.402(a)(5), (7), (9)(ii) and (10) permit consideration of the scheduled matter at the closed meeting. Commissioner Campos as duty officer, voted to consider the item listed for the closed meeting in closed session, and determined that no earlier notice thereof was possible. The subject matter of the closed meeting scheduled for Thursday, November 30, 2006 will be: Institution and settlement of injunctive actions; and Institution of an administrative proceeding. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: November 27, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–9473 Filed 11–27–06; 3:54 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meetings during the week of December 4, 2006: An open meeting will be held on Monday, December 4, 2006 at 10 a.m. in the Auditorium, Room LL–002 and a PO 00000 Frm 00053 Fmt 4703 Sfmt 4703 69149 closed meeting will be held on Wednesday, December 6, 2006 at 11 a.m. Commissioners, Counsels to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), (9)(ii), and (10) permit consideration of the scheduled matters at the closed meeting. Commissioner Campos, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matters of the open meeting scheduled for Monday, December 4, 2006 will be: 1. The Commission will consider whether to approve the budget of the Public Company Accounting Oversight Board and will consider the annual accounting support fees under section 109 of the Sarbanes-Oxley Act of 2002. 2. The Commission will consider whether to propose a new rule under the Securities Act of 1933 to revise the criteria for natural persons to be considered ‘‘accredited investors’’ for purposes of investing in certain privately offered investment vehicles. 3. The Commission will consider whether to propose a new rule under the Investment Advisers Act of 1940 to prohibit advisers from making false or misleading statements to investors in certain pooled investment vehicles they manage, including hedge funds. 4. The Commission will consider whether to propose amendments to Rule 105 of Regulation M that would further safeguard the integrity of the capital raising process and protect issuers from manipulative activity that can reduce issuers’ offering proceeds and dilute security holder value. 5. The Commission will consider whether to propose an amendment to the short sale price test of Rule 10a–1. In addition, the Commission will consider whether to propose an amendment to the ‘‘short exempt’’ marking requirement of Regulation SHO. The subject matters of the closed meeting scheduled for Wednesday, December 6, 2006 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; E:\FR\FM\29NON1.SGM 29NON1 69150 Federal Register / Vol. 71, No. 229 / Wednesday, November 29, 2006 / Notices Resolution of litigation claims; and Adjudicatory matters. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: November 27, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–9474 Filed 11–27–06; 3:55 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54804; File No. SR–CBOE– 2006–98] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Adoption of a Hybrid Electronic Quoting Fee November 21, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on November 20, 2006, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the CBOE. The Exchange has designated this proposal as one establishing or changing a due, fee or other charge imposed by the Exchange under Section 19(b)(3)(A),3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. jlentini on PROD1PC65 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change CBOE proposes to amend its Fees Schedule to adopt a Hybrid Electronic Quoting Fee. The text of the proposed rule change is available on the CBOE’s Web site at (http://www.cboe.com), at the CBOE’s Office of the Secretary, and 15 U.S.C. 78s(b)(1). 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(2). 1 2 VerDate Aug<31>2005 15:37 Nov 28, 2006 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, CBOE included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposal. The text of these statements may be examined at the places specified in Item IV below. CBOE has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this proposed rule change is to establish a new Hybrid Electronic Quoting Fee applicable to all Market-Makers, RMMs, DPMs, e-DPMs, and LMMs (collectively ‘‘MarketMakers’’) in order to promote and encourage more efficient quoting. As proposed, CBOE would assess all Market-Makers who are submitting electronic quotations to the Exchange a monthly fee of $450. Each month, each Market-Maker will receive an allocation of 1,000,000 quotes. If a Market-Maker submits to CBOE more than 1,000,000 quotes in a month, the Market-Maker will be assessed an additional fee of $.03 per 1,000 quotes in excess of 1,000,000. The Hybrid Electronic Quoting Fee is assessed by Market-Maker acronym. In the event a Market-Maker owns more than one membership and submits electronic quotations for all of the memberships under the same acronym, the Hybrid Electronic Quoting Fee will be assessed per membership owned by the Market-Maker. The Hybrid Electronic Quoting Fee is only applicable to Market-Makers submitting electronic quotations in option classes traded on the Hybrid Trading System. If a Market-Maker is assessed the Hybrid Electronic Quoting Fee, the Market-Maker does not pay a member dues fee. The Exchange intends to implement the Hybrid Electronic Quoting Fee effective February 1, 2007. 2. Statutory Basis The CBOE believes that the proposed rule change is consistent with Section 6(b) of the Act,5 in general, and furthers the objectives of Section 6(b)(4) of the Act,6 in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its members. B. Self-Regulatory Organization’s Statement on Burden on Competition The CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 7 and subparagraph (f)(2) of Rule 19b–4 thereunder,8 since it establishes or changes a due, fee or other charge imposed by the Exchange. At any time within 60 days of the filing of such proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in the furtherance of the purposes of the Act. 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 Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–CBOE–2006–98 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–CBOE–2006–98. This file 15 U.S.C. 78f(b)(4). 15 U.S.C. 78s(b)(3)(A). 8 17 CFR 240.19b–4(f)(2). 6 7 5 Jkt 211001 PO 00000 15 U.S.C. 78f(b). Frm 00054 Fmt 4703 Sfmt 4703 E:\FR\FM\29NON1.SGM 29NON1

Agencies

[Federal Register Volume 71, Number 229 (Wednesday, November 29, 2006)]
[Notices]
[Pages 69149-69150]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-9474]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meetings

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Pub. L. 94-409, that the Securities and 
Exchange Commission will hold the following meetings during the week of 
December 4, 2006:
    An open meeting will be held on Monday, December 4, 2006 at 10 a.m. 
in the Auditorium, Room LL-002 and a closed meeting will be held on 
Wednesday, December 6, 2006 at 11 a.m.
    Commissioners, Counsels to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters may also be 
present.
    The General Counsel of the Commission, or his designee, has 
certified that, in his opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B) and (10) and 17 CFR 
200.402(a)(3), (5), (7), (9)(ii), and (10) permit consideration of the 
scheduled matters at the closed meeting.
    Commissioner Campos, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matters of the open meeting scheduled for Monday, 
December 4, 2006 will be:
    1. The Commission will consider whether to approve the budget of 
the Public Company Accounting Oversight Board and will consider the 
annual accounting support fees under section 109 of the Sarbanes-Oxley 
Act of 2002.
    2. The Commission will consider whether to propose a new rule under 
the Securities Act of 1933 to revise the criteria for natural persons 
to be considered ``accredited investors'' for purposes of investing in 
certain privately offered investment vehicles.
    3. The Commission will consider whether to propose a new rule under 
the Investment Advisers Act of 1940 to prohibit advisers from making 
false or misleading statements to investors in certain pooled 
investment vehicles they manage, including hedge funds.
    4. The Commission will consider whether to propose amendments to 
Rule 105 of Regulation M that would further safeguard the integrity of 
the capital raising process and protect issuers from manipulative 
activity that can reduce issuers' offering proceeds and dilute security 
holder value.
    5. The Commission will consider whether to propose an amendment to 
the short sale price test of Rule 10a-1. In addition, the Commission 
will consider whether to propose an amendment to the ``short exempt'' 
marking requirement of Regulation SHO.
    The subject matters of the closed meeting scheduled for Wednesday, 
December 6, 2006 will be:

Formal orders of investigation;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings of an 
enforcement nature;

[[Page 69150]]

Resolution of litigation claims; and
Adjudicatory matters.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: November 27, 2006.
Nancy M. Morris,
Secretary.
[FR Doc. 06-9474 Filed 11-27-06; 3:55 pm]
BILLING CODE 8011-01-P