Sunshine Act Meeting, 42143 [2011-18067]

Download as PDF srobinson on DSK4SPTVN1PROD with NOTICES Federal Register / Vol. 76, No. 137 / Monday, July 18, 2011 / Notices disclosure contemplated by condition 2 below, by the initial shareholder(s) before offering shares of the MultiManager Fund to the public. 2. Each Multi-Manager Fund relying on the requested order will disclose in its prospectus the existence, substance, and effect of any order granted pursuant to the application. In addition, each Multi-Manager Fund will hold itself out to the public as employing the manager of managers structure described in the application. The prospectus will prominently disclose that the Adviser has ultimate responsibility (subject to oversight by the Board) to oversee SubAdvisers and recommend their hiring, termination and replacement. 3. Within 90 days of the hiring of any new Sub-Adviser, shareholders of the affected Multi-Manager Fund will be furnished all of the information about the new Sub-Adviser that would be included in a proxy statement. To meet this obligation the Multi-Manager Fund will, within 90 days of hiring a new Sub-Adviser, provide shareholders of the affected Multi-Manager Fund with an information statement meeting the requirements of Regulation 14C, Schedule 14C and Item 22 of Schedule 14A under the Securities Exchange Act of 1934, as amended. 4. The Adviser will not enter into a sub-advisory agreement with any Affiliated Sub-Adviser without such agreement, including the compensation to be paid thereunder, being approved by the shareholders of the applicable Multi-Manager Fund. 5. At all times, at least a majority of the Board will be Independent Trustees, and the nomination of new or additional Independent Trustees will be at the discretion of the then existing Independent Trustees. 6. When a change of Sub-Adviser is proposed for a Multi-Manager Fund with an Affiliated Sub-Adviser, the Board, including a majority of the Independent Trustees, will make a separate finding, reflected in the Board minutes, that such change is in the best interests of the Multi-Manager Fund and its shareholders and does not involve a conflict of interest from which the Adviser or an Affiliated Sub-Adviser derives an inappropriate advantage. 7. The Adviser will provide general management services to each MultiManager Fund, including overall supervisory responsibility for the general management and investment of the Multi-Manager Fund’s assets, and, subject to review and approval by the Board, will: (i) set the Multi-Manager Fund’s overall investment strategies; (ii) evaluate, select and recommend SubAdvisers to manage all or a part of the VerDate Mar<15>2010 16:43 Jul 15, 2011 Jkt 223001 Multi-Manager Fund’s assets; (iii) when appropriate, allocate and reallocate the Multi-Manager Fund’s assets among multiple Sub-Advisers; (iv) monitor and evaluate the Sub-Advisers’ performance; and (v) implement procedures reasonably designed to ensure that the Sub-Advisers comply with the MultiManager Fund’s investment objectives, policies and restrictions. 8. No trustee or officer of a MultiManager Fund 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 SubAdviser, except for: (i) ownership of interests in the Adviser or any entity that controls, is controlled by or is under common control with the Adviser; or (ii) ownership of less than 1% of the outstanding securities of any class of equity or debt of a publiclytraded company that is either a SubAdviser or an entity that controls, is controlled by, or is under common control with a Sub-Adviser. 9. In the event the Commission adopts a rule under the Act providing substantially similar relief to that in the order requested in the application, the requested order will expire on the effective date of that rule. For the Commission, by the Division of Investment Management, under delegated authority. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–17956 Filed 7–15–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Federal Register Citation of Previous Announcement: [76 FR 40948, July 12, 2011]. STATUS: Closed Meeting. PLACE: 100 F Street, NW., Washington, DC. DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: July 14, 2011 at 2 p.m. Deletion of Items. The following items will not be considered during the Closed Meeting on Thursday, July 14, 2011: 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. CHANGE IN THE MEETING: PO 00000 Frm 00032 Fmt 4703 Sfmt 4703 42143 Dated: July 14, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–18067 Filed 7–14–11; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Federal Register Citation of Previous Announcement: [76 FR 41534, July 14, 2011]. STATUS: PLACE: Open Meeting. 100 F Street, NE., Washington, DC. DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: Thursday, July 14, 2011. Cancellation of Meeting. The Open Meeting scheduled for Thursday, July 14, 2011 at 10 a.m. has been cancelled. For further information please contact the Office of the Secretary at (202) 551– 5400. CHANGE IN THE MEETING: Dated: July 13, 2011. Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–18051 Filed 7–14–11; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–64863; File No. SR–Phlx– 2011–94] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC Relating to the Options Floor Broker Subsidy July 12, 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 June 30, 2011, NASDAQ OMX PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 2 17 E:\FR\FM\18JYN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 18JYN1

Agencies

[Federal Register Volume 76, Number 137 (Monday, July 18, 2011)]
[Notices]
[Page 42143]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-18067]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

Federal Register Citation of Previous Announcement: [76 FR 40948, July 
12, 2011].

STATUS: Closed Meeting.

PLACE: 100 F Street, NW., Washington, DC.

DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: July 14, 2011 at 2 p.m.

CHANGE IN THE MEETING: Deletion of Items.

    The following items will not be considered during the Closed 
Meeting on Thursday, July 14, 2011:
    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: July 14, 2011.
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-18067 Filed 7-14-11; 11:15 am]
BILLING CODE 8011-01-P