Sunshine Act Meeting, 8791 [2011-3451]
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Federal Register / Vol. 76, No. 31 / Tuesday, February 15, 2011 / Notices
nominate any other disinterested
director, and that legal counsel for those
disinterested directors be independent
legal counsel.
9. Section 17(j) of the Act and
paragraph (b) of rule 17j–1 under the
Act make it unlawful for certain
enumerated persons to engage in
fraudulent or deceptive practices in
connection with the purchase or sale of
a security held or to be acquired by a
registered investment company. Rule
17j–1 also requires that every registered
investment company adopt a written
code of ethics and that every access
person of a registered investment
company report personal securities
transactions. Applicant requests an
exemption from the provisions of rule
17j–1, except for the anti-fraud
provisions of paragraph (b), because
they are unnecessarily burdensome as
applied to RCI.
10. Applicant requests an exemption
from the requirements in sections 30(a),
30(b), and 30(e) of the Act, and the rules
under those sections, that registered
investment companies prepare and file
with the Commission and mail to their
shareholders certain periodic reports
and financial statements. Applicant
contends that the forms prescribed by
the Commission for periodic reports
have little relevance to RCI and would
entail administrative and legal costs that
outweigh any benefit to the Participants
in RCI. Applicant also requests an
exemption from section 30(h) of the Act
to the extent necessary to exempt THC,
directors and any officer or other
persons who may be deemed to be
members of an advisory board of RCI
from filing Forms 3, 4, and 5 under
section 16(a) of the Securities Exchange
Act of 1934 with respect to their
ownership of RCI common stock.
Applicant asserts that, because there
will be no trading market and the
transfers of RCI common stock will be
severely restricted, these filings are
unnecessary for the protection of
investors and burdensome to those
required to make them.
11. Rule 38a–1 requires investment
companies to adopt, implement and
periodically review written policies
reasonably designed to prevent violation
of the federal securities laws and to
appoint a chief compliance officer.
Applicant requests an exemption from
the requirements of rule 38a-1 on the
basis that they are burdensome and
unnecessary and such exemption would
be consistent with the policies of the
Act. Applicant asserts compliance with
the rule would serve little purpose given
the limited nature of RCI’s operations
and since the sole purpose of RCI is to
VerDate Mar<15>2010
15:51 Feb 14, 2011
Jkt 223001
create a structure to provide favorable
tax treatment to THC.
Applicant’s Conditions
Applicant agrees that any order
granting the requested relief will be
subject to the following conditions:
1. Transactions otherwise prohibited
by section 17(a) or section 17(d) and
rule 17d–1 in which RCI is a party (the
‘‘Section 17 Transactions’’) will be
effected only if the RCI Board
determines that:
(a) The terms of the Section 17
Transaction, including the
consideration to be paid or received, are
fair and reasonable to the Participants of
RCI and do not involve overreaching of
RCI or its Participants on the part of any
person concerned; and
(b) The Section 17 Transactions are
consistent with the interests of the
Participants and with RCI’s
organizational and offering documents.
2. RCI and RCI’s Board will maintain
and preserve, for the life of RCI and at
least six years thereafter, all accounts,
books, and other documents as
constitute the record forming the basis
for the audited financial statements that
are to be provided to the Participants,
and agree that all such records will be
subject to examination by the
Commission and its staff. RCI will
preserve the accounts, books and other
documents required to be maintained in
an easily accessible place for the first
two years.
3. RCI’s Board will send to each
Participant who held RCI common stock
at any time during the fiscal year then
ended, RCI’s audited financial
statements, which audited financial
statements may be presented on a
combined basis with THC’s financial
statements.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–3272 Filed 2–14–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, February 17, 2011 at 1:30
p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
PO 00000
Frm 00085
Fmt 4703
Sfmt 4703
8791
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may 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 Paredes, as duty
officer, voted to consider the items
listed for the Closed Meeting in a closed
session.
The subject matter of the Closed
Meeting scheduled for Thursday,
February 17, 2011 will be:
A litigation matter;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings; and
Other matters relating to enforcement
proceedings.
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: February 10, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–3451 Filed 2–11–11; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63852; File No. SR–
NASDAQ–2011–017]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Modify Fees
for Members Using the NASDAQ
Market Center
February 7, 2011.
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 January
27, 2011, The NASDAQ Stock Market
LLC (‘‘NASDAQ’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
1 15
2 17
E:\FR\FM\15FEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
15FEN1
]]>Agencies
[Federal Register Volume 76, Number 31 (Tuesday, February 15, 2011)]
[Notices]
[Page 8791]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-3451]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday,
February 17, 2011 at 1:30 p.m.
Commissioners, Counsel 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 also may 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 Paredes, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
The subject matter of the Closed Meeting scheduled for Thursday,
February 17, 2011 will be:
A litigation matter;
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings; and
Other matters relating to enforcement proceedings.
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: February 10, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-3451 Filed 2-11-11; 11:15 am]
BILLING CODE 8011-01-P
