The Mexico Equity & Income Fund, Inc. and Pichardo Asset Management, S.A. de C.V., 23883-23884 [2017-10578]
Download as PDF
Federal Register / Vol. 82, No. 99 / Wednesday, May 24, 2017 / Notices
to: PRA_Mailbox@sec.gov. Comments
must be submitted to OMB within 30
days of this notice.
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Dated: May 19, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–10619 Filed 5–23–17; 8:45 am]
BILLING CODE 8011–01–P
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Extension: Form 6–K. SEC File No. 270–107,
OMB Control No. 3235–0116.
SECURITIES AND EXCHANGE
COMMISSION
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form 6–K (17 CFR 249.306) is a
disclosure document under the
Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) that must be filed by
a foreign private issuer to report
material information promptly after the
occurrence of specified or other
important corporate events that are
disclosed in the foreign private issuer’s
home country. The purpose of Form 6–
K is to ensure that U.S. investors have
access to the same information that
foreign investors do when making
investment decisions. Form 6–K is a
public document and all information
provided is mandatory. Form 6–K takes
approximately 8.7 hours per response
and is filed by approximately 34,794
issuers annually. We estimate 75% of
the 8.7 hours per response (6.525 hours)
is prepared by the issuer for a total
annual reporting burden of 227,031
hours (6.525 hours per response ×
34,794 responses). The remaining
burden hours are reflected as a cost to
the foreign private issuers.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
The public may view the background
documentation for this information
collection at the following Web site,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Chief Information Officer,
Securities and Exchange Commission, c/
o Remi Pavlik-Simon, 100 F Street NE.,
Washington, DC 20549 or send an email
[Investment Company Act Release No.
32640; 812–14213]
VerDate Sep<11>2014
19:43 May 23, 2017
Jkt 241001
The Mexico Equity & Income Fund, Inc.
and Pichardo Asset Management, S.A.
de C.V.
May 18, 2017.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:
Notice of an application under section
6(c) of the Investment Company Act of
1940 (the ‘‘Act’’) for an exemption from
section 19(b) of the Act and rule 19b–
1 under the Act to permit a registered
closed-end investment company to
make periodic distributions of long-term
capital gains more frequently than
permitted by section 19(b) or rule 19b–
1.
APPLICANTS: The Mexico Equity &
Income Fund, Inc. (the ‘‘Fund’’), a nondiversified closed-end investment
company registered under the Act and
organized as a corporation under the
laws of Maryland and Pichardo Asset
Management, S.A. de C.V. (the
‘‘Adviser’’) (together with the Fund, the
‘‘Applicants’’), registered under the
Investment Advisers Act of 1940,
organized as a corporation under the
laws of Mexico, and serving as
investment adviser to the Fund.
FILING DATES: The application was filed
on September 23, 2013 and amended on
December 2, 2013, March 21, 2016,
August 2, 2016, and December 5, 2016.
HEARING OR NOTIFICATION OF HEARING:
An order granting the application will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on June 12, 2017, and
should be accompanied by proof of
service on applicants, in the form of an
affidavit or, for lawyers, a certificate of
service. Pursuant to Rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
23883
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
ADDRESSES: The Commission: Secretary,
U.S. Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
Applicants: Phillip Goldstein, The
Mexico Equity & Income Fund, Inc.,
c/o U.S. Bancorp Fund Services, LLC,
615 East Michigan Street, Milwaukee,
WI 53202 and Maria Eugenia Pichardo,
Pichardo Asset Management, S.A. de
C.V., Andres Bello 45, 22nd Floor, Col.
Chapultepec Polanco, Del. Miguel
Hidalgo, CDMX 11560.
FOR FURTHER INFORMATION CONTACT:
Laura L. Solomon, Senior Counsel at
(202) 551–6915, or David J. Marcinkus,
Branch Chief, at (202) 551–6821
(Division of Investment Management,
Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
Web site by searching for the file
number, or for an applicant using the
Company name box, at https://
www.sec.gov/search/search.htm, or by
calling (202) 551–8090.
Summary of the Application
1. Section 19(b) of the Act generally
makes it unlawful for any registered
investment company (‘‘fund’’) to
distribute long-term capital gains more
often than once every twelve months.
Rule 19b–1 under the Act limits the
number of capital gains dividends, as
defined in section 852(b)(3)(C) of the
Internal Revenue Code of 1986 (‘‘Code,’’
and such dividends, ‘‘distributions’’),
that a fund may make with respect to
any one taxable year to one, plus a
supplemental distribution made
pursuant to section 855 of the Code not
exceeding 10% of the total amount
distributed for the year, plus one
additional capital gain dividend made
in whole or in part to avoid the excise
tax under section 4982 of the Code.
2. Applicants believe that the Fund’s
stockholders may prefer an investment
vehicle that provides for more frequent
capital gains distributions and a
consistent cash flow. Applicants
propose that the Fund be permitted to
adopt a distribution policy pursuant to
which the Fund would distribute
periodically to its stockholders a fixed
monthly percentage of the market price
of the Fund’s common stock at a
particular point in time or a fixed
monthly percentage of net asset value at
a particular time or a fixed monthly
E:\FR\FM\24MYN1.SGM
24MYN1
23884
Federal Register / Vol. 82, No. 99 / Wednesday, May 24, 2017 / Notices
amount per share of common stock, any
of which may be adjusted from time to
time (a ‘‘Distribution Policy’’).
3. Applicants request an order under
section 6(c) of the Act granting an
exemption from section 19(b) of the Act
and rule 19b–1 to permit the Fund to
distribute periodic capital gain
dividends (as defined in section
852(b)(3)(C) of the Code) as frequently
as twelve times in any one taxable year
in respect of its common stock and as
often as specified by, or determined in
accordance with the terms of, any
preferred stock issued by the Fund.
Section 6(c) of the Act provides, in
relevant part, that the Commission may
exempt any person or transaction from
any provision of the Act to the extent
that such exemption 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.
4. Applicants state that any order
granting the requested relief will be
subject to the terms and conditions
stated in the application, which
generally are designed to address the
concerns underlying section 19(b) and
rule 19b–1, including concerns about
proper disclosures and shareholders’
understanding of the source(s) of a
Fund’s distributions and concerns about
improper sales practices. Among other
things, such terms and conditions
require that (1) the board of directors or
trustees of the Fund (the ‘‘Board’’)
review such information as is
reasonably necessary to make an
informed determination of whether to
adopt the proposed Distribution Policy
and that the Board periodically review
the amount of the distributions in light
of the investment experience of the
Fund, and (2) that the Fund’s
shareholders receive appropriate
disclosures concerning the
distributions.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–10578 Filed 5–23–17; 8:45 am]
asabaliauskas on DSK3SPTVN1PROD with NOTICES
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–197, OMB Control No.
3235–0200]
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Office of FOIA Services, 100 F
VerDate Sep<11>2014
19:43 May 23, 2017
Jkt 241001
Street NE., Washington, DC 20549–
2736.
Extension:
Rule 15c3–1.
Dated: May 19, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–10620 Filed 5–23–17; 8:45 am]
BILLING CODE 8011–01–P
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 15c3–1 (17 CFR 240.15c3–1) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) (‘‘Exchange Act’’).
Rule 15c3–1 requires brokers-dealers
to have at all times sufficient liquid
assets to meet their current liabilities,
particularly the claims of customers.
The rule facilitates the monitoring of the
financial condition of broker-dealers by
the Commission and the various selfregulatory organizations. It is estimated
that broker-dealer respondents
registered with the Commission and
subject to the collection of information
requirements of Rule 15c3–1 incur an
aggregate annual burden of 65,915.31
hours to comply with this rule and an
aggregate annual external cost of
$160,000.
Rule 15c3–1 does not contain record
retention requirements. Compliance
with the rule is mandatory. The
required records are available only to
the examination staff of the Commission
and the self-regulatory organization of
which the broker-dealer is a member.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following Web site,
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
100 F Street NE., Washington, DC
20549, or send an email to: PRA_
Mailbox@sec.gov. Comments must be
submitted to OMB within 30 days of
this notice.
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80723; File No. SR–
NYSEMKT–2017–27]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 103B—
Equities
May 18, 2017.
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 May 4,
2017, NYSE MKT LLC (the ‘‘Exchange’’
or ‘‘NYSE MKT’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
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
Rule 103B—Equities, which governs the
allocation of securities to Designated
Market Makers (‘‘DMMs’’). 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.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
E:\FR\FM\24MYN1.SGM
24MYN1
Agencies
[Federal Register Volume 82, Number 99 (Wednesday, May 24, 2017)]
[Notices]
[Pages 23883-23884]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10578]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 32640; 812-14213]
The Mexico Equity & Income Fund, Inc. and Pichardo Asset
Management, S.A. de C.V.
May 18, 2017.
AGENCY: Securities and Exchange Commission (``Commission'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of an application under section 6(c) of the Investment
Company Act of 1940 (the ``Act'') for an exemption from section 19(b)
of the Act and rule 19b-1 under the Act to permit a registered closed-
end investment company to make periodic distributions of long-term
capital gains more frequently than permitted by section 19(b) or rule
19b-1.
Applicants: The Mexico Equity & Income Fund, Inc. (the ``Fund''), a
non-diversified closed-end investment company registered under the Act
and organized as a corporation under the laws of Maryland and Pichardo
Asset Management, S.A. de C.V. (the ``Adviser'') (together with the
Fund, the ``Applicants''), registered under the Investment Advisers Act
of 1940, organized as a corporation under the laws of Mexico, and
serving as investment adviser to the Fund.
Filing Dates: The application was filed on September 23, 2013 and
amended on December 2, 2013, March 21, 2016, August 2, 2016, and
December 5, 2016.
Hearing or Notification of Hearing: An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on June 12, 2017, and should be accompanied by proof of service on
applicants, in the form of an affidavit or, for lawyers, a certificate
of service. Pursuant to Rule 0-5 under the Act, hearing requests should
state the nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by writing to the Commission's Secretary.
ADDRESSES: The Commission: Secretary, U.S. Securities and Exchange
Commission, 100 F Street NE., Washington, DC 20549-1090. Applicants:
Phillip Goldstein, The Mexico Equity & Income Fund, Inc., c/o U.S.
Bancorp Fund Services, LLC, 615 East Michigan Street, Milwaukee, WI
53202 and Maria Eugenia Pichardo, Pichardo Asset Management, S.A. de
C.V., Andres Bello 45, 22nd Floor, Col. Chapultepec Polanco, Del.
Miguel Hidalgo, CDMX 11560.
FOR FURTHER INFORMATION CONTACT: Laura L. Solomon, Senior Counsel at
(202) 551-6915, or David J. Marcinkus, Branch Chief, at (202) 551-6821
(Division of Investment Management, Chief Counsel's Office).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or for an
applicant using the Company name box, at https://www.sec.gov/search/search.htm, or by calling (202) 551-8090.
Summary of the Application
1. Section 19(b) of the Act generally makes it unlawful for any
registered investment company (``fund'') to distribute long-term
capital gains more often than once every twelve months. Rule 19b-1
under the Act limits the number of capital gains dividends, as defined
in section 852(b)(3)(C) of the Internal Revenue Code of 1986 (``Code,''
and such dividends, ``distributions''), that a fund may make with
respect to any one taxable year to one, plus a supplemental
distribution made pursuant to section 855 of the Code not exceeding 10%
of the total amount distributed for the year, plus one additional
capital gain dividend made in whole or in part to avoid the excise tax
under section 4982 of the Code.
2. Applicants believe that the Fund's stockholders may prefer an
investment vehicle that provides for more frequent capital gains
distributions and a consistent cash flow. Applicants propose that the
Fund be permitted to adopt a distribution policy pursuant to which the
Fund would distribute periodically to its stockholders a fixed monthly
percentage of the market price of the Fund's common stock at a
particular point in time or a fixed monthly percentage of net asset
value at a particular time or a fixed monthly
[[Page 23884]]
amount per share of common stock, any of which may be adjusted from
time to time (a ``Distribution Policy'').
3. Applicants request an order under section 6(c) of the Act
granting an exemption from section 19(b) of the Act and rule 19b-1 to
permit the Fund to distribute periodic capital gain dividends (as
defined in section 852(b)(3)(C) of the Code) as frequently as twelve
times in any one taxable year in respect of its common stock and as
often as specified by, or determined in accordance with the terms of,
any preferred stock issued by the Fund. Section 6(c) of the Act
provides, in relevant part, that the Commission may exempt any person
or transaction from any provision of the Act to the extent that such
exemption 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.
4. Applicants state that any order granting the requested relief
will be subject to the terms and conditions stated in the application,
which generally are designed to address the concerns underlying section
19(b) and rule 19b-1, including concerns about proper disclosures and
shareholders' understanding of the source(s) of a Fund's distributions
and concerns about improper sales practices. Among other things, such
terms and conditions require that (1) the board of directors or
trustees of the Fund (the ``Board'') review such information as is
reasonably necessary to make an informed determination of whether to
adopt the proposed Distribution Policy and that the Board periodically
review the amount of the distributions in light of the investment
experience of the Fund, and (2) that the Fund's shareholders receive
appropriate disclosures concerning the distributions.
For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10578 Filed 5-23-17; 8:45 am]
BILLING CODE 8011-01-P