ProShares Trust, et al.; Notice of Application, 162-163 [E6-22447]

Download as PDF 162 Federal Register / Vol. 72, No. 1 / Wednesday, January 3, 2007 / Notices directly notify licensees who are subject to this regulation of any fee changes. The Commission will forward to the submitting licensee all data received from the FBI as a result of the licensee’s application(s) for criminal history records checks, including the FBI fingerprint record. rwilkins on PROD1PC63 with NOTICES Right to Correct and Complete Information Prior to any final adverse determination, the licensee shall make available to the individual the contents of any criminal records obtained from the FBI for the purpose of assuring correct and complete information. Written confirmation by the individual of receipt of this notification must be maintained by the licensee for a period of one (1) year from the date of the notification. If, after reviewing the record, an individual believes that it is incorrect or incomplete in any respect and wishes to change, correct, or update the alleged deficiency, or to explain any matter in the record, the individual may initiate challenge procedures. These procedures include either direct application by the individual challenging the record to the agency (i.e., law enforcement agency) that contributed the questioned information, or direct challenge as to the accuracy or completeness of any entry on the criminal history record to the Assistant Director, Federal Bureau of Investigation Identification Division, Washington, DC 20537–9700 (as set forth in 28 CFR 16.30 through 16.34). In the latter case, the FBI forwards the challenge to the agency that submitted the data and requests that agency to verify or correct the challenged entry. Upon receipt of an official communication directly from the agency that contributed the original information, the FBI Identification Division makes any changes necessary in accordance with the information supplied by that agency. The licensee must provide at least ten (10) days for an individual to initiate an action challenging the results of an FBI criminal history records check after the record is made available for his/her review. The licensee may make a final SGI access determination based upon the criminal history record only upon receipt of the FBI’s ultimate confirmation or correction of the record. Upon a final adverse determination on access to SGI, the licensee shall provide the individual its documented basis for denial. Access to SGI shall not be granted to an individual during the review process. VerDate Aug<31>2005 19:02 Dec 29, 2006 Jkt 211001 Protection of Information 1. Each licensee who obtains a criminal history record on an individual pursuant to this Order shall establish and maintain a system of files and procedures for protecting the record and the personal information from unauthorized disclosure. 2. The licensee may not disclose the record or personal information collected and maintained to persons other than the subject individual, his/her representative, or to those who have a need to access the information in performing assigned duties in the process of determining access to Safeguards Information. No individual authorized to have access to the information may re-disseminate the information to any other individual who does not have a need-to-know. 3. The personal information obtained on an individual from a criminal history record check may be transferred to another licensee if the licensee holding the criminal history record check receives the individual’s written request to re-disseminate the information contained in his/her file, and the current licensee verifies information such as the individual’s name, date of birth, social security number, sex, and other applicable physical characteristics for identification purposes. 4. The licensee shall make criminal history records, obtained under this section, available for examination by an authorized representative of the NRC to determine compliance with the regulations and laws. 5. The licensee shall retain all fingerprint and criminal history records received from the FBI, or a copy if the individual’s file has been transferred, for three (3) years after termination of employment or determination of access to SGI (whether access was approved or denied). After the required three (3) year period, these documents shall be destroyed by a method that will prevent reconstruction of the information in whole or in part. [FR Doc. E6–22453 Filed 12–29–06; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27609; 812–13329] ProShares Trust, et al.; Notice of Application December 22, 2006. Securities and Exchange Commission (‘‘Commission’’). AGENCY: PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 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), 22(d) and 24(d) of the Act and rule 22c–1 under the Act, and under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act. ACTION: ProShares Trust (‘‘Trust’’), ProShare Advisors LLC (‘‘Adviser’’), and SEI Investments Distribution Company (‘‘Distributor’’). SUMMARY OF APPLICATION: Applicants request an order to amend a prior order that permits: (a) Series of an open-end management investment company to issue shares of limited redeemability; (b) secondary market transactions in the shares of the series to occur at negotiated prices; (c) dealers to sell shares of the series to purchasers in the secondary market unaccompanied by a prospectus, when prospectus delivery is not required by the Securities Act of 1933; and (d) affiliated persons of a 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 to permit the series described in the application for the Prior Order (‘‘Initial Funds’’) as well as certain new series (‘‘Additional Funds,’’ and together with the Initial Funds, ‘‘Funds’’) to be offered using equity securities indices different than those permitted under the Prior Order (‘‘New Underlying Indices’’). FILING DATES: The application was filed on September 15, 2006, and amended on December 20, 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 January 17, 2007, 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 who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. APPLICANTS: 1 ProShares Trust, et al., Investment Company Act Release Nos. 27323 (May 18, 2006) (notice) and 27394 (June 13, 2006) (order). E:\FR\FM\03JAN1.SGM 03JAN1 Federal Register / Vol. 72, No. 1 / Wednesday, January 3, 2007 / Notices Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. Applicants: ProShares Trust and Adviser, 7501 Wisconsin Avenue, Suite 1000, Bethesda, MD 20814; SEI Investments Distribution Company, One Freedom Valley Drive, Oaks, PA 19456. FOR FURTHER INFORMATION CONTACT: John Yoder, Senior Counsel, at (202) 551– 6878, or Julia Kim Gilmer, Branch Chief, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). 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 Desk, 100 F Street, NE., Washington, DC 20549–0102 (tel. 202–551–5850). ADDRESSES: rwilkins on PROD1PC63 with NOTICES Applicants’ Representations 1. The Trust is an open-end management investment company registered under the Act and organized as a Delaware statutory trust. The Trust is authorized to offer an unlimited number of series. The Adviser is registered as an investment adviser under the Investment Advisers Act of 1940 (‘‘Advisers Act’’) and will advise each Fund. The Adviser may enter into subadvisory agreements with additional investment advisers to act as subadviser to the Trust and any Fund. Any subadviser to the Trust or a Fund will be registered under the Advisers Act. The Distributor is registered as a brokerdealer under the Securities Exchange Act of 1934 and will act as the distributor and principal underwriter for each Fund’s shares. 2. The Prior Order permits the Initial Funds to seek daily investment results, before fees and expenses, that correspond to 100%, 125%, 150% or 200% of the performance, or the inverse of the performance, or 125%, 150% or 200% of the inverse multiple of the performance of particular equity securities indices.2 Applicants seek to 2 The Prior Order permits the Trust to offer Initial Funds based on the following underlying indices only: S&P 500 Index, Nasdaq100 Index, Dow Jones Industrial Average, S&P MidCap400 Index, Russell 2000 Index, S&P Small Cap 600 Index, Nasdaq Composite Index, S&P 500/ Citigroup Value Index (formerly S&P 500 BARRA Value Index), S&P 500/ Citigroup Growth Index (formerly S&P 500 BARRA Growth Index), S&P MidCap400/ Citigroup Value Index (formerly S&P MidCap400 BARRA Value Index), S&P MidCap 400/ Citigroup Growth Index (formerly S&P MidCap 400/BARRA Growth Index), S&P SmallCap 600/ Citigroup Value Index (formerly S&P SmallCap 600/Barra Value Index), S&P SmallCap 600/ Citigroup Growth Index (formerly S&P SmallCap 600/BARRA Growth Index), Dow Jones U.S. Airlines Index, Dow Jones U.S. Banks Index, Dow Jones U.S. Basic Materials Sector Index, Dow Jones U.S. Biotechnology Index, Dow Jones VerDate Aug<31>2005 19:02 Dec 29, 2006 Jkt 211001 amend the Prior Order to permit both the Initial Funds and Additional Funds to be offered using New Underlying Indices.3 All Additional Funds will operate in a manner identical to the Initial Funds. No creator, provider or compiler of a New 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, a promoter, the Adviser, any subadviser to any Fund, or the Distributor. 3. Applicants state that the Funds will be offered pursuant to the same terms and provisions contained in the application for the Prior Order. 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. Jill M. Peterson, Assistant Secretary. [FR Doc. E6–22447 Filed 12–29–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 27610; 812–13224] Ziegler Exchange Traded Trust, et al.; Notice of Application December 22, 2006. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice of an application for an order under section 6(c) of the AGENCY: U.S. Composite Internet Index, Dow Jones U.S. Consumer Services Index, Dow Jones U.S. Consumer Goods Index, Dow Jones U.S. Oil & Gas Index, Dow Jones U.S. Financials Index, Dow Jones U.S. Health Care Index, Dow Jones U.S. Industrials Index, Dow Jones U.S. Leisure Goods Index, Dow Jones U.S. Oil Equipment, Services & Distribution Index, Dow Jones U.S. Pharmaceuticals Index, Dow Jones U.S. Precious Metals Index, Dow Jones U.S. Real Estate Index, Dow Jones U.S. Semiconductors Index, Dow Jones U.S. Technology Index, Dow Jones U.S. Telecommunications Index, Dow Jones U.S. Utilities Index and Dow Jones U.S. Mobile Communications Index. 3 The New Underlying Indices are the S&P 500 Energy Sector Index, S&P 500 Materials Sector Index, S&P 500 Industrials Sector Index, S&P 500 Consumer Discretionary Sector Index, S&P 500 Consumer Staples Sector Index, S&P 500 Health Care Sector Index, S&P 500 Financials Sector Index, S&P 500 Information Technology Sector Index, S&P 500 Telecommunication Services Sector Index, S&P 500 Utilities Sector Index, Russell 1000 Value Index, Russell 1000 Growth Index, Russell MidCap Value Index, Russell MidCap Growth Index, Russell 2000 Value Index, Russell 2000 Growth Index, Russell 3000 Value Index and Russell 3000 Growth Index. PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 163 Investment Company Act of 1940 (‘‘Act’’) for an exemption from sections 2(a)(32), 5(a)(1), 22(d), and 24(d) of the Act and rule 22c–1 under the Act, and under sections 6(c) and 17(b) of the Act for an exemption from sections 17(a)(1) and (a)(2) of the Act. Applicants request an order that would permit (a) series of registered open-end management investment companies, to issue shares (‘‘Fund Shares’’) that can be redeemed only in large aggregations (‘‘Creation Unit Aggregations’’); (b) secondary market transactions in Fund Shares to occur at negotiated prices; (c) dealers to sell Fund Shares to purchasers in the secondary market unaccompanied by a prospectus when prospectus delivery is not required by the Securities Act of 1933 (‘‘Securities Act’’); and (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series in connection with the purchase and redemption of Creation Unit Aggregations. APPLICANTS: Ziegler Exchange Traded Trust (‘‘Trust’’); Ziegler Capital Management, LLC (‘‘Advisor’’); and B.C. Ziegler and Company (‘‘Distributor’’). FILING DATES: The application was filed on August 16, 2005, and amended on June 5, 2006, November 17, 2006, and December 19, 2006. HEARING OR NOTIFICATION OF HEARING: An order granting the application 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 January 17, 2007, 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 who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549– 1090; Applicants, 250 East Wisconsin Avenue, Suite 2200, Milwaukee, WI 53202. FOR FURTHER INFORMATION CONTACT: Deepak T. Pai, Senior Counsel at (202) 551–6876, or Stacy L. Fuller, Branch Chief, at (202) 551–6821 (Division of Investment Management, Office of Investment Company Regulation). SUMMARY OF APPLICATION: E:\FR\FM\03JAN1.SGM 03JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 1 (Wednesday, January 3, 2007)]
[Notices]
[Pages 162-163]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-22447]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 27609; 812-13329]


ProShares Trust, et al.; Notice of Application

December 22, 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), 22(d) and 24(d) of the Act 
and rule 22c-1 under the Act, and under sections 6(c) and 17(b) of the 
Act for an exemption from sections 17(a)(1) and (a)(2) of the Act.

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Applicants: ProShares Trust (``Trust''), ProShare Advisors LLC 
(``Adviser''), and SEI Investments Distribution Company 
(``Distributor'').

Summary of Application: Applicants request an order to amend a prior 
order that permits: (a) Series of an open-end management investment 
company to issue shares of limited redeemability; (b) secondary market 
transactions in the shares of the series to occur at negotiated prices; 
(c) dealers to sell shares of the series to purchasers in the secondary 
market unaccompanied by a prospectus, when prospectus delivery is not 
required by the Securities Act of 1933; and (d) affiliated persons of a 
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 to permit the series described in the application for 
the Prior Order (``Initial Funds'') as well as certain new series 
(``Additional Funds,'' and together with the Initial Funds, ``Funds'') 
to be offered using equity securities indices different than those 
permitted under the Prior Order (``New Underlying Indices'').
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    \1\ ProShares Trust, et al., Investment Company Act Release Nos. 
27323 (May 18, 2006) (notice) and 27394 (June 13, 2006) (order).

Filing Dates: The application was filed on September 15, 2006, and 
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amended on December 20, 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 January 17, 2007, 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 who wish to be notified of a hearing may request 
notification by writing to the Commission's Secretary.

[[Page 163]]


ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street, 
NE., Washington, DC 20549-1090. Applicants: ProShares Trust and 
Adviser, 7501 Wisconsin Avenue, Suite 1000, Bethesda, MD 20814; SEI 
Investments Distribution Company, One Freedom Valley Drive, Oaks, PA 
19456.

FOR FURTHER INFORMATION CONTACT: John Yoder, Senior Counsel, at (202) 
551-6878, or Julia Kim Gilmer, Branch Chief, at (202) 551-6821 
(Division of Investment Management, Office of Investment Company 
Regulation).

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 Desk, 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 organized as a Delaware statutory trust. 
The Trust is authorized to offer an unlimited number of series. The 
Adviser is registered as an investment adviser under the Investment 
Advisers Act of 1940 (``Advisers Act'') and will advise each Fund. The 
Adviser may enter into subadvisory agreements with additional 
investment advisers to act as subadviser to the Trust and any Fund. Any 
subadviser to the Trust or a Fund will be registered under the Advisers 
Act. The Distributor is registered as a broker-dealer under the 
Securities Exchange Act of 1934 and will act as the distributor and 
principal underwriter for each Fund's shares.
    2. The Prior Order permits the Initial Funds to seek daily 
investment results, before fees and expenses, that correspond to 100%, 
125%, 150% or 200% of the performance, or the inverse of the 
performance, or 125%, 150% or 200% of the inverse multiple of the 
performance of particular equity securities indices.\2\ Applicants seek 
to amend the Prior Order to permit both the Initial Funds and 
Additional Funds to be offered using New Underlying Indices.\3\ All 
Additional Funds will operate in a manner identical to the Initial 
Funds. No creator, provider or compiler of a New 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, a 
promoter, the Adviser, any subadviser to any Fund, or the Distributor.
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    \2\ The Prior Order permits the Trust to offer Initial Funds 
based on the following underlying indices only: S&P 500 Index, 
Nasdaq100 Index, Dow Jones Industrial Average, S&P MidCap400 Index, 
Russell 2000 Index, S&P Small Cap 600 Index, Nasdaq Composite Index, 
S&P 500/ Citigroup Value Index (formerly S&P 500 BARRA Value Index), 
S&P 500/ Citigroup Growth Index (formerly S&P 500 BARRA Growth 
Index), S&P MidCap400/ Citigroup Value Index (formerly S&P MidCap400 
BARRA Value Index), S&P MidCap 400/ Citigroup Growth Index (formerly 
S&P MidCap 400/BARRA Growth Index), S&P SmallCap 600/ Citigroup 
Value Index (formerly S&P SmallCap 600/Barra Value Index), S&P 
SmallCap 600/ Citigroup Growth Index (formerly S&P SmallCap 600/
BARRA Growth Index), Dow Jones U.S. Airlines Index, Dow Jones U.S. 
Banks Index, Dow Jones U.S. Basic Materials Sector Index, Dow Jones 
U.S. Biotechnology Index, Dow Jones U.S. Composite Internet Index, 
Dow Jones U.S. Consumer Services Index, Dow Jones U.S. Consumer 
Goods Index, Dow Jones U.S. Oil & Gas Index, Dow Jones U.S. 
Financials Index, Dow Jones U.S. Health Care Index, Dow Jones U.S. 
Industrials Index, Dow Jones U.S. Leisure Goods Index, Dow Jones 
U.S. Oil Equipment, Services & Distribution Index, Dow Jones U.S. 
Pharmaceuticals Index, Dow Jones U.S. Precious Metals Index, Dow 
Jones U.S. Real Estate Index, Dow Jones U.S. Semiconductors Index, 
Dow Jones U.S. Technology Index, Dow Jones U.S. Telecommunications 
Index, Dow Jones U.S. Utilities Index and Dow Jones U.S. Mobile 
Communications Index.
    \3\ The New Underlying Indices are the S&P 500 Energy Sector 
Index, S&P 500 Materials Sector Index, S&P 500 Industrials Sector 
Index, S&P 500 Consumer Discretionary Sector Index, S&P 500 Consumer 
Staples Sector Index, S&P 500 Health Care Sector Index, S&P 500 
Financials Sector Index, S&P 500 Information Technology Sector 
Index, S&P 500 Telecommunication Services Sector Index, S&P 500 
Utilities Sector Index, Russell 1000 Value Index, Russell 1000 
Growth Index, Russell MidCap Value Index, Russell MidCap Growth 
Index, Russell 2000 Value Index, Russell 2000 Growth Index, Russell 
3000 Value Index and Russell 3000 Growth Index.
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    3. Applicants state that the Funds will be offered pursuant to the 
same terms and provisions contained in the application for the Prior 
Order. 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.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. E6-22447 Filed 12-29-06; 8:45 am]
BILLING CODE 8011-01-P

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