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 http:// 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]


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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 http://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