Sunshine Act Meeting., 11705 [2013-03829]
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11705
TKELLEY on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 78, No. 33 / Tuesday, February 19, 2013 / Notices
6. Whenever a Sub-Advisor change is
proposed for a Fund with an Affiliated
Sub-Advisor, the Board, including a
majority of the Independent Trustees,
will make a separate finding, reflected
in the applicable Board minutes, that
such change is in the best interests of
such Fund and its shareholders and
does not involve a conflict of interest
from which the Advisor or an Affiliated
Sub-Advisor derives an inappropriate
advantage.
7. The Advisor will provide general
management services to each Fund
relying on the order, including overall
supervisory responsibility for the
general management and investment of
the Fund’s assets and, subject to review
and approval by the Board, will: (a) set
the Fund’s overall investment strategies;
(b) evaluate, select and recommend SubAdvisors to provide purchase and sale
recommendations to the Advisor or
investment advice to all or a portion of
the Fund’s assets; (c) allocate and, when
appropriate, reallocate the Fund’s assets
among multiple Sub-Advisors; (d)
monitor and evaluate the Sub-Advisors’
performance; and (e) implement
procedures reasonably designed to
ensure that Sub-Advisor(s) comply with
the relevant Fund’s investment
objectives, policies and restrictions.
8. No trustee or officer of a Fund
relying on the order or director or officer
of the Advisor will own directly or
indirectly (other than through a pooled
investment vehicle that is not controlled
by such person) any interest in a SubAdvisor except for (a) ownership of
interests in the Advisor or any entity
that controls, is controlled by or is
under common control with the
Advisor; or (b) ownership of less than
1% of the outstanding securities of any
class of equity or debt of a publicly
traded company that is either a SubAdvisor or an entity that controls, is
controlled by or is under common
control with a Sub-Advisor.
9. For any Fund that utilizes a SubAdvisor and pays fees to a Sub-Advisor
directly from Fund assets, any changes
to a Sub-Advisory Agreement that
would result in an increase in the total
management and advisory fees payable
by that Fund will be required to be
approved by the shareholders of the
Fund.
10. In the event the Commission
adopts a rule under the Act providing
substantially similar relief to that
requested in the application, the
requested order will expire on the
effective date of that rule.
11. Each Fund relying on the order
will disclose in its registration statement
the Aggregate Fee Disclosure.
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12. Independent legal counsel, as
defined in rule 0–1(a)(6) under the Act,
will be engaged to represent the
Independent Trustees. The selection of
such counsel will be within the
discretion of the then-existing
Independent Trustees.
13. The Advisor will provide the
Board, no less frequently than quarterly,
with information about the profitability
of the Advisor on a per-Fund basis for
each Fund relying on the order. The
information will reflect the impact on
profitability of the hiring or termination
of any Sub-Advisor during the
applicable quarter.
14. Whenever a Sub-Advisor is hired
or terminated, the Advisor will provide
the Board with information showing the
expected impact on the profitability of
the Advisor.
An adjudicatory matter.
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 14, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013–03829 Filed 2–14–13; 4:15 pm]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68907; File No. SR–PHLX–
2013–05]
For the Commission, by the Division of
Investment Management, under delegated
authority.
Kevin M. O’Neill,
Deputy Secretary.
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing of Proposed Rule Change
Regarding Catastrophic Errors
[FR Doc. 2013–03686 Filed 2–15–13; 8:45 am]
February 12, 2013.
BILLING CODE 8011–01–P
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
31, 2013, NASDAQ OMX PHLX LLC
(‘‘PHLX’’ 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 Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
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 21, 2013 at 2:00
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 Aguilar, as duty
officer, voted to consider the items
listed for the Closed Meeting in a closed
session.
The subject matter of the Closed
Meeting will be:
Institution and settlement of injunctive
actions;
Institution and settlement of
administrative proceedings;
Other matters relating to enforcement
proceedings; and
PO 00000
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Fmt 4703
Sfmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing with the
Commission a proposal to amend Rule
1092, Obvious Errors and Catastrophic
Errors. Specifically, Phlx proposes to
amend Rule 1092(f)(ii) to permit the
nullification of trades involving
catastrophic errors in certain situations
specified below.
The text of the proposed rule change
is set forth below. Proposed new
language is italics; proposed deletions
are in brackets.
*
*
*
*
*
Rule 1092. Obvious Errors and Catastrophic
Errors
The Exchange shall either nullify a
transaction or adjust the execution price of a
transaction that results in an Obvious Error
as provided in this Rule.
1 15
2 17
E:\FR\FM\19FEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
19FEN1
]]>Agencies
[Federal Register Volume 78, Number 33 (Tuesday, February 19, 2013)]
[Notices]
[Page 11705]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-03829]
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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 21, 2013 at 2:00 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 Aguilar, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
The subject matter of the Closed Meeting will be:
Institution and settlement of injunctive actions;
Institution and settlement of administrative proceedings;
Other matters relating to enforcement proceedings; and
An adjudicatory matter.
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 14, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-03829 Filed 2-14-13; 4:15 pm]
BILLING CODE 8011-01-P
