Sunshine Act Meeting, 18944 [2014-07686]

Download as PDF mstockstill on DSK4VPTVN1PROD with NOTICES 18944 Federal Register / Vol. 79, No. 65 / Friday, April 4, 2014 / Notices Existing Fund of which any of the Substitution Applicants is an affiliated person will be effected in accordance with the conditions set forth in the Commission’s no-action letter issued to Signature Financial Group, Inc. (available December 28, 1999). 4. The Section 17 Applicants submit that the In-Kind Transactions, as described in the application, meet the conditions set forth in Section 17(b) of the 1940 Act. 5. Section 17 Applicants maintain that the terms of the proposed in-kind purchase transactions, including the consideration to be paid and received by each Fund involved, are reasonable, fair and do not involve overreaching principally because the transactions will conform with all but one of the conditions (that the consideration paid for the securities being purchased or sold may not be entirely cash) enumerated in Rule 17a–7 of the 1940 Act. The proposed transactions will take place at relative net asset value in conformity with the requirements of Section 22(c) of the Act and Rule 22c– 1 thereunder with no change in the amount of any Contract owner’s contract value or death benefit or in the dollar value of his or her investment in any of the Separate Accounts. The Applicants assert that Contract owners will not suffer any adverse tax consequences as a result of the substitutions, and the fees and charges under the Contracts will not increase because of the substitutions. 6. The Boards of Trustees of MIST and Met Series Fund have adopted procedures, as required by paragraph (e)(1) of Rule 17a–7, pursuant to which the series of each may purchase and sell securities to and from their affiliates. The Section 17 Applicants assert they will carry out the proposed Insurance Company in-kind purchases in conformity with all of the conditions of Rule 17a–7 and each series’ procedures thereunder, except that the consideration paid for the securities being purchased or sold may not be entirely cash. Nevertheless, the Substitution Applicants state that the circumstances surrounding the proposed Substitutions will be such as to offer the same degree of protection to each Replacement Fund from overreaching that Rule 17a–7 provides to them generally in connection with their purchase and sale of securities under that Rule in the ordinary course of their business. In particular, the Insurance Companies (or any of their affiliates) cannot effect the proposed transactions at a price that is disadvantageous to any of the Replacement Funds. Although the transactions may not be entirely for VerDate Mar<15>2010 17:37 Apr 03, 2014 Jkt 232001 cash, each will be effected based upon (1) the independent market price of the portfolio securities valued as specified in paragraph (b) of Rule 17a–7, and (2) the net asset value per share of each Fund involved valued in accordance with the procedures disclosed in its respective investment company registration statement and as required by Rule 22c–1 under the Act. No brokerage commission, fee, or other remuneration will be paid to any party in connection with the proposed in-kind purchase transactions. 7. The sale of shares of Replacement Funds for investment securities, as contemplated by the proposed Insurance Company in-kind purchases, is consistent with the investment policies and restrictions of the Investment Companies and the Replacement Funds because (1) the shares are sold at their net asset value, and (2) the portfolio securities are of the type and quality that the Replacement Funds would each have acquired with the proceeds from share sales had the shares been sold for cash. To assure that the second of these conditions is met, MetLife Advisers, LLC and the subadviser, as applicable, will examine the portfolio securities being offered to each Replacement Fund and accept only those securities as consideration for shares that it would have acquired for each such Fund in a cash transaction. 8. The Section 17 Applicants represent that the proposed in-kind purchases meet all of the requirements of Section 17(b) of the Act and that an exemption should be granted, to the extent necessary, from the provisions of Section 17(a). Conclusion Applicants assert that for the reasons summarized above that the proposed substitutions and related transactions meet the standards of Section 26(c) of the Act and are consistent with the standards of Section 17(b) of the Act and that the requested orders should be granted. Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission Investor Advisory Committee will hold a meeting on Thursday, April 10, 2014, in MultiPurpose Room LL–006 at the Commission’s headquarters, 100 F Street NE., Washington, DC. The meeting will begin at 10:00 a.m. (EST) and will be open to the public. Seating will be on a first-come, first-served basis. Doors will open at 9:30 a.m. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s Web site at www.sec.gov. On March 28, 2014, the Commission issued notice of the Committee meeting (Release No. 33–9567), indicating that the meeting is open to the public and inviting the public to submit written comments to the Committee. This Sunshine Act notice is being issued because a quorum of the Commission may attend the meeting. The agenda for the meeting includes: Remarks from Commissioners; remarks from the Investor Advocate; election of Investor Advisory Committee Chair; a recommendation from the Investor as Purchaser Subcommittee regarding crowdfunding regulations; and nonpublic subcommittee meetings. For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: April 2, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–07686 Filed 4–2–14; 4:15 pm] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71832; File No. SR–ISE– 2014–18] For the Commission, by the Division of Investment Management pursuant to delegated authority. Kevin M. O’Neill, Deputy Secretary. Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend ISE Rule 623 (‘‘Options Communications’’) To Conform With the Rules of the Financial Industry Regulatory Authority Inc. [FR Doc. 2014–07512 Filed 4–3–14; 8:45 am] March 31, 2014. 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 March 20, 2014, the International Securities Exchange, LLC (‘‘Exchange’’ or ‘‘ISE’’) SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the PO 00000 Frm 00068 Fmt 4703 Sfmt 4703 1 15 2 17 E:\FR\FM\04APN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 04APN1

Agencies

[Federal Register Volume 79, Number 65 (Friday, April 4, 2014)]
[Notices]
[Page 18944]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-07686]


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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 Investor Advisory Committee will hold a meeting 
on Thursday, April 10, 2014, in Multi-Purpose Room LL-006 at the 
Commission's headquarters, 100 F Street NE., Washington, DC. The 
meeting will begin at 10:00 a.m. (EST) and will be open to the public. 
Seating will be on a first-come, first-served basis. Doors will open at 
9:30 a.m. Visitors will be subject to security checks. The meeting will 
be webcast on the Commission's Web site at www.sec.gov.
    On March 28, 2014, the Commission issued notice of the Committee 
meeting (Release No. 33-9567), indicating that the meeting is open to 
the public and inviting the public to submit written comments to the 
Committee. This Sunshine Act notice is being issued because a quorum of 
the Commission may attend the meeting.
    The agenda for the meeting includes: Remarks from Commissioners; 
remarks from the Investor Advocate; election of Investor Advisory 
Committee Chair; a recommendation from the Investor as Purchaser 
Subcommittee regarding crowdfunding regulations; and nonpublic 
subcommittee meetings.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

    Dated: April 2, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-07686 Filed 4-2-14; 4:15 pm]
BILLING CODE 8011-01-P