Advisory Committee on Small and Emerging Companies, 59991-59992 [2013-23696]

Download as PDF tkelley on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 78, No. 189 / Monday, September 30, 2013 / Notices where applicable, will vote the shares of each portfolio held in their VLI Accounts and VA Accounts in a manner consistent with voting instructions timely received from Variable Contract owners. Participating Insurance Companies will be responsible for assuring that their VLI Accounts and VA Accounts investing in the relevant portfolio calculate voting privileges in a manner consistent with all other participants. The obligation to calculate voting privileges as provided in this Application shall be a contractual obligation of all Participating Insurance Companies under their Participation Agreement with an Insurance Fund. Each Participating Insurance Company will vote Shares held in its VLI Accounts or VA Accounts for which it has not received timely voting instructions, as well as Shares held in its General Account or otherwise attributed to it, in the same proportion as those shares for which it has received voting instructions. Each Qualified Plan will vote as required by applicable law, governing Qualified Plan documents and as provided in this application. 7. As long as the Act requires passthrough voting privileges to be provided to Variable Contract owners or the Commission interprets the Act to require the same, an Adviser or any General Account will vote their respective Shares in the same proportion as all votes cast on behalf of all Variable Contract owners having voting rights; provided, however, that the Adviser or General Account will vote its shares in such other manner as may be required by the Commission or its staff. 8. Each Insurance Fund will comply with all provisions of the Act requiring voting by shareholders (which, for these purposes, shall be the persons having a voting interest in its shares) and, in particular, an Insurance Fund will either provide for annual meetings (except to the extent that the Commission may interpret Section 16 of the Act not to require such meetings) or comply with Section 16(c) of the Act (although each Insurance Fund is not, or will not be, one of those trusts of the type described in Section 16(c) of the Act), as well as with Section 16(a) of the Act and, if and when applicable, Section 16(b) of the Act. Further, each Insurance Fund will act in accordance with the Commission’s interpretations of the requirements of Section 16(a) with respect to periodic elections of trustees and with whatever rules the Commission may promulgate thereto. 9. An Insurance Fund will make available Shares under a Variable VerDate Mar<15>2010 18:06 Sep 27, 2013 Jkt 229001 Contract and/or Qualified Plan at or about the time it accepts any seed capital from the Adviser or from a General Account of a Participating Insurance Company. 10. Each Insurance Fund has notified, or will notify, all Participants that disclosure regarding potential risks of mixed and shared funding may be appropriate in VLI Account and VA Account prospectuses or Qualified Plan documents. Each Insurance Fund will disclose, in its prospectus that: (a) Shares may be offered to VLI Accounts and VA Accounts funding both VA Contracts and VLI Contracts and, if applicable, to Qualified Plans; (b) due to differences in tax treatment and other considerations, the interests of various Variable Contract owners participating in an Insurance Fund and the interests of Qualified Plans investing in an Insurance Fund, if applicable, may conflict; and (c) the Board will monitor events in order to identify the existence of any material irreconcilable conflicts and to determine what action, if any, should be taken in response to any such conflicts. 11. If and to the extent that Rule 6e– 2 and Rule 6e–3(T) under the Act are amended, or proposed Rule 6e–3 under the Act is adopted, to provide exemptive relief from any provision of the Act, or the rules promulgated thereunder, with respect to mixed or shared funding, on terms and conditions materially different from any exemptions granted in the order requested in this Application, then an Insurance Fund and/or Participating Insurance Companies, as appropriate, shall take such steps as may be necessary to comply with Rules 6e–2 or 6e–3(T), as amended, or Rule 6e–3, to the extent such rules are applicable. 12. Each Participant, at least annually, shall submit to the Board, on behalf of an Insurance Fund, such reports, materials or data as the Board reasonably may request so that the trustees may fully carry out the obligations imposed upon the Board by the conditions contained in this Application. Such reports, materials and data shall be submitted more frequently if deemed appropriate by the Board. The obligations of the Participants to provide these reports, materials and data to the Board, when it so reasonably requests, shall be a contractual obligation of all Participants under their Participation Agreement with an Insurance Fund. 13. All reports of potential or existing conflicts received by the Board, on behalf of an Insurance Fund, and all Board action with regard to determining the existence of a conflict, notifying PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 59991 Participants of a conflict and determining whether any proposed action adequately remedies a conflict, will be properly recorded in the minutes of the Board or other appropriate records, and such minutes or other records shall be made available to the Commission upon request. 14. Each Insurance Fund will not accept a purchase order from a Qualified Plan if such purchase would make the Qualified Plan an owner of 10 percent or more of the assets of a portfolio unless the Qualified Plan executes an agreement with an Insurance Fund governing participation in the portfolio that includes the conditions set forth in the Application to the extent applicable. A Qualified Plan will execute an application containing an acknowledgement of this condition at the time of its initial purchase of shares. Conclusion Applicants submit, for all the reasons explained above, that the exemptions requested are appropriate in the public interest and consistent with the protection of investors and the purposes fairly intended by the policy and provisions of the Act. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Kevin O’Neill, Deputy Secretary. [FR Doc. 2013–23687 Filed 9–27–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33–9456; 34–70491; File No. 265–27] Advisory Committee on Small and Emerging Companies Securities and Exchange Commission. ACTION: Notice of Federal Advisory Committee Renewal. AGENCY: The Securities and Exchange Commission is publishing this notice to announce the renewal of the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies. SUMMARY: FOR FURTHER INFORMATION CONTACT: Johanna Losert, Special Counsel, Office of Small Business Policy, Securities and Exchange Commission, 100 F Street, NE., Washington DC 20549, (202) 551– 3460. SUPPLEMENTARY INFORMATION: In accordance with the requirements of the E:\FR\FM\30SEN1.SGM 30SEN1 tkelley on DSK3SPTVN1PROD with NOTICES 59992 Federal Register / Vol. 78, No. 189 / Monday, September 30, 2013 / Notices Federal Advisory Committee Act, 5 U.S.C.—App., the Commission is publishing this notice that the Chair of the Commission, with the concurrence of the other Commissioners, has approved the renewal of the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies (the ‘‘Committee’’). The Chair of the Commission affirms that the renewal of the Committee is necessary and in the public interest. The Committee’s objective is to provide the Commission with advice on its rules, regulations, and policies, with regard to its mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation, as they relate to the following: (1) Capital raising by emerging privately held small businesses (‘‘emerging companies’’) and publicly traded companies with less than $250 million in public market capitalization (‘‘smaller public companies’’) through securities offerings, including private and limited offerings and initial and other public offerings; (2) Trading in the securities of emerging companies and smaller public companies; and (3) Public reporting and corporate governance requirements of emerging companies and smaller public companies. Up to 20 voting members will be appointed to the Committee who can effectively represent those directly affected by, interested in, and/or qualified to provide advice to the Commission on its rules, regulations, and policies as set forth above. The Committee’s membership will continue to be balanced fairly in terms of points of view represented and functions to be performed. Non-voting observers for the Committee from the North American Securities Administrators Association and the U.S. Small Business Administration may also be named. The charter provides that the duties of the Committee are to be solely advisory. The Commission alone will make any determinations of action to be taken and policy to be expressed with respect to matters within the Commission’s authority as to which the Committee provides advice or makes recommendations. The Committee will meet at such intervals as are necessary to carry out its functions. The charter contemplates that the full Committee will meet three times annually. Meetings of subgroups or subcommittees of the full Committee may occur more frequently. The Committee will operate for two years from the date it was renewed or VerDate Mar<15>2010 18:06 Sep 27, 2013 Jkt 229001 such earlier date as determined by the Commission unless, before the expiration of that time period, it is renewed in accordance with the Federal Advisory Committee Act. A copy of the charter for the Committee has been filed with the Chair of the Commission, the Committee on Banking, Housing, and Urban Affairs of the United States Senate, and the Committee on Financial Services of the United States House of Representatives. A copy of the charter also was furnished to the Library of Congress and posted on the Commission’s Web site at www.sec.gov. By the Commission. Dated: September 24, 2013. Elizabeth M. Murphy, Secretary. [FR Doc. 2013–23696 Filed 9–27–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Frm 00082 Fmt 4703 Sfmt 4703 [FR Doc. 2013–23954 Filed 9–26–13; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–70487; File No. SR–NYSE– 2013–62] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Listing Standard for Reverse Merger Companies Set Forth in Section 102.01F of The Exchange’s Listed Company Manual to Harmonize With Nasdaq Stock Market Rules That Require the Timely Filing of All Required Reports for the Most Recent 12-Month Period September 24, 2013. 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, October 3, 2013 at 10:30 a.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 her designee, has certified that, in her 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 matter at the Closed Meeting. Commissioner Stein, 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; Adjudicatory matters; 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. PO 00000 Dated: September 26, 2013. Elizabeth M. Murphy, Secretary. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on September 16, 2013, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its listing standard for Reverse Merger Companies set forth in Section 102.01F of the Exchange’s Listed Company Manual (the ‘‘Manual’’) to harmonize with requirements imposed by the Nasdaq Stock Market (‘‘Nasdaq’’) and modify in one respect the circumstances under which a reverse merger company may be eligible to list under the rule. The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 E:\FR\FM\30SEN1.SGM 30SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 78, Number 189 (Monday, September 30, 2013)]
[Notices]
[Pages 59991-59992]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-23696]


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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-9456; 34-70491; File No. 265-27]


Advisory Committee on Small and Emerging Companies

AGENCY: Securities and Exchange Commission.

ACTION: Notice of Federal Advisory Committee Renewal.

-----------------------------------------------------------------------

SUMMARY: The Securities and Exchange Commission is publishing this 
notice to announce the renewal of the Securities and Exchange 
Commission Advisory Committee on Small and Emerging Companies.

FOR FURTHER INFORMATION CONTACT: Johanna Losert, Special Counsel, 
Office of Small Business Policy, Securities and Exchange Commission, 
100 F Street, NE., Washington DC 20549, (202) 551-3460.

SUPPLEMENTARY INFORMATION: In accordance with the requirements of the

[[Page 59992]]

Federal Advisory Committee Act, 5 U.S.C.--App., the Commission is 
publishing this notice that the Chair of the Commission, with the 
concurrence of the other Commissioners, has approved the renewal of the 
Securities and Exchange Commission Advisory Committee on Small and 
Emerging Companies (the ``Committee''). The Chair of the Commission 
affirms that the renewal of the Committee is necessary and in the 
public interest.
    The Committee's objective is to provide the Commission with advice 
on its rules, regulations, and policies, with regard to its mission of 
protecting investors, maintaining fair, orderly, and efficient markets, 
and facilitating capital formation, as they relate to the following:
    (1) Capital raising by emerging privately held small businesses 
(``emerging companies'') and publicly traded companies with less than 
$250 million in public market capitalization (``smaller public 
companies'') through securities offerings, including private and 
limited offerings and initial and other public offerings;
    (2) Trading in the securities of emerging companies and smaller 
public companies; and
    (3) Public reporting and corporate governance requirements of 
emerging companies and smaller public companies.
    Up to 20 voting members will be appointed to the Committee who can 
effectively represent those directly affected by, interested in, and/or 
qualified to provide advice to the Commission on its rules, 
regulations, and policies as set forth above. The Committee's 
membership will continue to be balanced fairly in terms of points of 
view represented and functions to be performed. Non-voting observers 
for the Committee from the North American Securities Administrators 
Association and the U.S. Small Business Administration may also be 
named.
    The charter provides that the duties of the Committee are to be 
solely advisory. The Commission alone will make any determinations of 
action to be taken and policy to be expressed with respect to matters 
within the Commission's authority as to which the Committee provides 
advice or makes recommendations. The Committee will meet at such 
intervals as are necessary to carry out its functions. The charter 
contemplates that the full Committee will meet three times annually. 
Meetings of subgroups or subcommittees of the full Committee may occur 
more frequently.
    The Committee will operate for two years from the date it was 
renewed or such earlier date as determined by the Commission unless, 
before the expiration of that time period, it is renewed in accordance 
with the Federal Advisory Committee Act. A copy of the charter for the 
Committee has been filed with the Chair of the Commission, the 
Committee on Banking, Housing, and Urban Affairs of the United States 
Senate, and the Committee on Financial Services of the United States 
House of Representatives. A copy of the charter also was furnished to 
the Library of Congress and posted on the Commission's Web site at 
www.sec.gov.

    By the Commission.

     Dated: September 24, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-23696 Filed 9-27-13; 8:45 am]
BILLING CODE 8011-01-P

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