Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Relating to Listing and Trading of Shares of the SPDR SSgA Global Managed Volatility ETF Under NYSE Arca Equities Rule 8.600, 66758-66759 [2014-26586]

Download as PDF 66758 Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Notices asabaliauskas on DSK5VPTVN1PROD with NOTICES Board with sufficient independence and the resources and information it needs to monitor and address any conflicts of interest with affiliated persons of the Advisor, including Wholly-Owned SubAdvisors. Applicants state that, accordingly, they believe the requested relief is necessary or 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. Applicants’ Conditions Applicants agree that any order granting the requested relief will be subject to the following conditions: 1. Before a Subadvised Series may rely on the order requested in the application, the operation of the Subadvised Series in the manner described in the application, including the hiring of Wholly-Owned SubAdvisors, will be, or has been, approved by a majority of the Subadvised Series’ outstanding voting securities as defined in the Act, or, in the case of a new Subadvised Series whose public shareholders purchase shares on the basis of a prospectus containing the disclosure contemplated by condition 2 below, by the sole initial shareholder before offering the Subadvised Series’ shares to the public. 2. The prospectus for each Subadvised Series will disclose the existence, substance, and effect of any order granted pursuant to the application. Each Subadvised Series will hold itself out to the public as employing the multi-manager structure described in the application. Each prospectus will prominently disclose that the Advisor has the ultimate responsibility, subject to oversight by the Board, to oversee the Sub-Advisors and recommend their hiring, termination and replacement. 3. The Advisor will provide general management services to a Subadvised Series, including overall supervisory responsibility for the general management and investment of the Subadvised Series’ assets. Subject to review and approval of the Board, the Advisor will (a) set a Subadvised Series’ overall investment strategies, (b) evaluate, select, and recommend SubAdvisors to manage all or a portion of a Subadvised Series’ assets, and (c) implement procedures reasonably designed to ensure that Sub-Advisors comply with a Subadvised Series’ investment objective, policies and restrictions. Subject to review by the Board, the Advisor will (a) when appropriate, allocate and reallocate a Subadvised Series’ assets among multiple Sub-Advisors; and (b) monitor VerDate Sep<11>2014 18:25 Nov 07, 2014 Jkt 235001 and evaluate the performance of SubAdvisors. 4. A Subadvised Series will not make any Ineligible Sub-Advisor Changes without such agreement, including the compensation to be paid thereunder, being approved by the shareholders of the applicable Subadvised Series. 5. Subadvised Series will inform shareholders of the hiring of a new Sub Advisor within 90 days after the hiring of the new Sub-Advisor pursuant to the Modified Notice and Access Procedures. 6. At all times, at least a majority of the Board will be Independent Board Members, and the selection and nomination of new or additional Independent Board Members will be placed within the discretion of the thenexisting Independent Board Members. 7. Independent Legal Counsel, as defined in rule 0–1(a)(6) under the Act, will be engaged to represent the Independent Board Members. The selection of such counsel will be within the discretion of the then-existing Independent Board Members. 8. The Advisor will provide the Board, no less frequently than quarterly, with information about the profitability of the Advisor on a per Subadvised Series basis. The information will reflect the impact on profitability of the hiring or termination of any sub-advisor during the applicable quarter. 9. 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. 10. Whenever a sub-advisor change is proposed for a Subadvised Series with an Affiliated Sub-Advisor or a WhollyOwned Sub-Advisor, the Board, including a majority of the Independent Board Members, will make a separate finding, reflected in the Board minutes, that such change is in the best interests of the Subadvised Series and its shareholders, and does not involve a conflict of interest from which the Advisor or the Affiliated Sub-Advisor or Wholly-Owned Sub-Advisor derives an inappropriate advantage. 11. No Board member or officer of a Subadvised Series, or partner, director, manager, 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 Sub-Advisor, except for (a) ownership of interests in the Advisor or any entity, other than a WhollyOwned Sub-Advisor, 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 PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 company that is either a Sub-Advisor or an entity that controls, is controlled by, or is under common control with a SubAdvisor. 12. Any new Sub-Advisory Agreement or any amendment to a Series’ existing Investment Management Agreement or Sub-Advisory Agreement that directly or indirectly results in an increase in the aggregate advisory fee rate payable by the Series will be submitted to the Series’ shareholders for approval. 13. Each Subadvised Series will disclose the Aggregate Fee Disclosure in its registration statement. 14. 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. For the Commission, by the Division of Investment Management, under delegated authority. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–26587 Filed 11–7–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–73515; File No. SR– NYSEArca-2014–100] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Relating to Listing and Trading of Shares of the SPDR SSgA Global Managed Volatility ETF Under NYSE Arca Equities Rule 8.600 November 4, 2014. On September 5, 2014, NYSE Arca, Inc. filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change relating to the listing and trading of shares of the SPDR SSgA Global Managed Volatility ETF. The proposed rule change was published for comment in the Federal Register on September 24, 2014.3 The Commission has received no comment letters on the proposed rule change. Section 19(b)(2) of the Act 4 provides that, within 45 days of the publication of notice of the filing of a proposed rule 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 73141 (Sept. 18, 2014), 79 FR 57161. 4 15 U.S.C. 78s(b)(2). 2 17 E:\FR\FM\10NON1.SGM 10NON1 Federal Register / Vol. 79, No. 217 / Monday, November 10, 2014 / Notices change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates December 23, 2014, as the date by which the Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change (File Number SR–NYSEArca-2014–100). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–26586 Filed 11–7–14; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #14171 and #14172] Kentucky Disaster #KY–00053 U.S. Small Business Administration. ACTION: Notice. This is a notice of an Administrative declaration of a disaster for the Commonwealth of Kentucky dated 10/30/2014. Incident: Severe Storms, Flooding, Landslides, and Mudslides. Incident Period: 08/18/2014 through 08/23/2014. DATES: Effective Date: 10/30/2014. Physical Loan Application Deadline Date: 12/29/2014. Economic Injury (EIDL) Loan Application Deadline Date: 07/30/2015. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, asabaliauskas on DSK5VPTVN1PROD with NOTICES SUMMARY: 5 Id. 6 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 18:25 Nov 07, 2014 Jkt 235001 409 3rd Street SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator’s disaster declaration, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: Floyd. Contiguous Counties: Kentucky: Johnson, Knott, Magoffin, Martin, Pike. The Interest Rates are: For Physical Damage: Homeowners With Credit Available Elsewhere ...................... Homeowners Without Credit Available Elsewhere .............. Businesses With Credit Available Elsewhere ...................... Businesses Without Credit Available Elsewhere .............. Non-Profit Organizations With Credit Available Elsewhere ... Non-Profit Organizations Without Credit Available Elsewhere ..................................... For Economic Injury: Businesses & Small Agricultural Cooperatives Without Credit Available Elsewhere .............. Non-Profit Organizations Without Credit Available Elsewhere ..................................... Incident Period: 09/15/2014 through 09/26/2014. DATES: Effective Date: 10/29/2014. Physical Loan Application Deadline Date: 12/29/2014. Economic Injury (EIDL) Loan Application Deadline Date: 07/29/2015. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW., Suite 6050, Washington, DC 20416 Percent SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President’s major disaster declaration on 4.125 10/29/2014, Private Non-Profit organizations that provide essential 2.063 services of governmental nature may file disaster loan applications at the address 6.000 listed above or other locally announced locations. 4.000 The following areas have been determined to be adversely affected by 2.625 the disaster: Primary Counties: Colfax, Eddy, Lea, Lincoln, Otero, San Miguel, Santa Fe, 2.625 Sierra. The Interest Rates are: Percent 4.000 2.625 The number assigned to this disaster for physical damage is 14171 B and for economic injury is 14172 0. The Commonwealth which received an EIDL Declaration # is Kentucky AGENCY: 66759 (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Dated: October 30, 2014. Maria Contreras-Sweet, Administrator. [FR Doc. 2014–26578 Filed 11–7–14; 8:45 am] For Physical Damage: Non-Profit Organizations With Credit Available Elsewhere ... Non-Profit Organizations Without Credit Available Elsewhere ..................................... For Economic Injury: Non-Profit Organizations Without Credit Available Elsewhere ..................................... 2.625 2.625 2.625 The number assigned to this disaster for physical damage is 14175B and for economic injury is 14176B (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #14175 and #14176] James E. Rivera, Associate Administrator for Disaster Assistance. [FR Doc. 2014–26577 Filed 11–7–14; 8:45 am] BILLING CODE 8025–01–P New Mexico Disaster #NM–00047 U.S. Small Business Administration. ACTION: Notice. DEPARTMENT OF STATE This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of New Mexico (FEMA–4199– DR), dated 10/29/2014. Incident: Severe Storms and Flooding. 60-Day Notice of Proposed Information Collection: Ten DDTC Information Collections AGENCY: SUMMARY: PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 [Public Notice: 8941] Notice of request for public comments. ACTION: E:\FR\FM\10NON1.SGM 10NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 217 (Monday, November 10, 2014)]
[Notices]
[Pages 66758-66759]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-26586]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-73515; File No. SR-NYSEArca-2014-100]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change Relating to Listing and Trading of Shares of the SPDR SSgA 
Global Managed Volatility ETF Under NYSE Arca Equities Rule 8.600

November 4, 2014.
    On September 5, 2014, NYSE Arca, Inc. filed with the Securities and 
Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change relating to the listing and 
trading of shares of the SPDR SSgA Global Managed Volatility ETF. The 
proposed rule change was published for comment in the Federal Register 
on September 24, 2014.\3\ The Commission has received no comment 
letters on the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 73141 (Sept. 18, 
2014), 79 FR 57161.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule

[[Page 66759]]

change, or within such longer period up to 90 days as the Commission 
may designate if it finds such longer period to be appropriate and 
publishes its reasons for so finding or as to which the self-regulatory 
organization consents, the Commission shall either approve the proposed 
rule change, disapprove the proposed rule change, or institute 
proceedings to determine whether the proposed rule change should be 
disapproved. The Commission is extending this 45-day time period. The 
Commission finds that it is appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates December 23, 2014, as the date by which the 
Commission shall either approve or disapprove or institute proceedings 
to determine whether to disapprove the proposed rule change (File 
Number SR-NYSEArca-2014-100).
---------------------------------------------------------------------------

    \5\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-26586 Filed 11-7-14; 8:45 am]
BILLING CODE 8011-01-P

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