American Century International Bond Funds, et al., 42381-42382 [2017-18931]
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Federal Register / Vol. 82, No. 172 / Thursday, September 7, 2017 / Notices
file proposals that are substantially
similar to this proposal.
The Exchange does not believe that
the proposed rule change imposes a
burden on intramarket competition
because the proposed provisions apply
to all market participants equally.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 17 and
subparagraph (f)(6) of Rule 19b–4
thereunder.18
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
mstockstill on DSK30JT082PROD with NOTICES
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CBOE–2017–058 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CBOE–2017–058. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–CBOE–
2017–058, and should be submitted on
or before September 28, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–18939 Filed 9–6–17; 8:45 am]
BILLING CODE 8011–01–P
17 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
18 17
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CFR 200.30–3(a)(12).
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42381
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
32805; File No. 812–14754]
American Century International Bond
Funds, et al.
August 31, 2017.
Securities and Exchange
Commission.
ACTION: Notice.
AGENCY:
Notice of an application for an order
under section 12(d)(1)(J) of the
Investment Company Act of 1940 (the
‘‘Act’’) for an exemption from sections
12(d)(1)(A), (B), and (C) of the Act and
under sections 6(c) and 17(b) of the Act
for an exemption from sections 17(a)(1)
and (2) of the Act. The requested order
would permit certain registered openend investment companies to acquire
shares of certain registered open-end
investment companies, registered
closed-end investment companies,
business development companies, as
defined in section 2(a)(48) of the Act
(‘‘BDCs’’) and registered unit investment
trusts (collectively, ‘‘Underlying
Funds’’) that are within and outside the
same group of investment companies as
the acquiring investment companies, in
excess of the limits in section 12(d)(1)
of the Act.
Applicants: American Century
International Bond Funds (‘‘ACIBF’’), a
Massachusetts business trust, and
American Century Strategic Asset
Allocations, Inc. (‘‘ACSAA’’), a
Maryland corporation, each registered
under the Act as an open-end
management investment company with
multiple series (each series, a ‘‘Fund’’
and collectively, the ‘‘Funds’’);
American Century Investment
Management, Inc. (‘‘ACIM’’ or the
‘‘Advisor’’), a Delaware Corporation
registered as an investment adviser
under the Investment Advisers Act of
1940; and American Century Investment
Services, Inc., a Missouri corporation,
registered as a broker-dealer under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’).
Filing Dates: The application was
filed on March 7, 2017, and amended on
August 4, 2017.
Hearing or Notification of Hearing: An
order granting the requested relief 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 September 25, 2017 and
should be accompanied by proof of
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42382
Federal Register / Vol. 82, No. 172 / Thursday, September 7, 2017 / Notices
service on the 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: Secretary, U.S. Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
Applicants: c/o Mr. Giles Walsh, Esq.,
American Century Investments, 4500
Main Street, Kansas City, Missouri
64111.
FOR FURTHER INFORMATION CONTACT:
Elizabeth G. Miller, Senior Counsel, at
(202) 551–8707, or Holly Hunter-Ceci,
Assistant Chief Counsel, at (202) 551–
6825 (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.
mstockstill on DSK30JT082PROD with NOTICES
Summary of the Application
1. Applicants request an order to
permit (a) a Fund 1 (each a ‘‘Fund of
Funds’’) to acquire shares of Underlying
Funds 2 in excess of the limits in
sections 12(d)(1)(A) and (C) of the Act
and (b) the Underlying Funds that are
registered open-end investment
1 Applicants request that the order apply not only
to any existing series of ACIBF and ACSAA, but
that the order also extend to any future series of
ACIBF and ACSAA, and any other existing or future
registered open-end management investment
companies and any series thereof that are, or in the
future be, advised by the Advisor or any other
investment adviser controlling, controlled by or
under common control with the Advisor and that
are part of the same group of investment companies,
as defined in section 12(d)(1)(G)(ii) of the Act, as
ACIBF and ACSAA (together with the existing
series of ACIBF and ACSAA, each series a ‘‘Fund’’).
All references to the term ‘‘Advisor’’ include
successors-in-interest to the Advisor. For purposes
of the requested order, a successor-in-interest is
limited to an entity that results from a
reorganization into another jurisdiction or a change
in the type of business organization. For purposes
of the request for relief, the term ‘‘group of
investment companies’’ means any two or more
registered investment companies, including closedend investment companies, that hold themselves
out to investors as related companies for purposes
of investment and investor services.
2 Certain of the Underlying Funds have obtained
exemptions from the Commission necessary to
permit their shares to be listed and traded on a
national securities exchange at negotiated prices
and, accordingly, to operate as an exchange-traded
fund (‘‘ETF’’).
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17:42 Sep 06, 2017
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companies or series thereof, their
principal underwriters and any broker
or dealer registered under the Exchange
Act to sell shares of the Underlying
Fund to the Fund of Funds in excess of
the limits in section 12(d)(1)(B) of the
Act.3 Applicants also request an order of
exemption under sections 6(c) and 17(b)
of the Act from the prohibition on
certain affiliated transactions in section
17(a) of the Act to the extent necessary
to permit the Underlying Funds to sell
their shares to, and redeem their shares
from, the Funds of Funds.4 Applicants
state that such transactions will be
consistent with the policies of each
Fund of Funds and each Underlying
Fund and with the general purposes of
the Act and will be based on the net
asset values of the Underlying Funds.
2. Applicants agree that any order
granting the requested relief will be
subject to the terms and conditions
stated in the application. Such terms
and conditions are designed to, among
other things, help prevent any potential
(i) undue influence over an Underlying
Fund that is not in the same ‘‘group of
investment companies’’ as the Fund of
Funds through control or voting power,
or in connection with certain services,
transactions, and underwritings, (ii)
excessive layering of fees, and (iii)
overly complex fund structures, which
are the concerns underlying the limits
in sections 12(d)(1)(A), (B), and (C) of
the Act.
3. Section 12(d)(1)(J) of the Act
provides that the Commission may
exempt any person, security, or
transaction, or any class or classes of
persons, securities, or transactions, from
any provision of section 12(d)(1) if the
3 Applicants do not request relief for the Funds
of Funds to invest in reliance on the order in BDCs
and registered closed-end investment companies
that are not listed on a national securities exchange.
4 A Fund of Funds generally would purchase and
sell shares of an Underlying Fund that operates as
an ETF through secondary market transactions
rather than through principal transactions with the
Underlying Fund. Applicants nevertheless request
relief from sections 17(a)(1) and (2) to permit each
Fund of Funds that is an affiliated person, or an
affiliated person of an affiliated person, as defined
in section 2(a)(3) of the Act, of an ETF to purchase
or redeem shares from the ETF. Applicants are not
seeking relief from section 17(a) for, and the
requested relief will not apply to, transactions
where an ETF could be deemed an affiliated person,
or an affiliated person of an affiliated person, of a
Fund of Funds because an investment adviser to the
ETF or an entity controlling, controlled by or under
common control with the investment adviser to the
ETF is also an investment adviser to the Fund of
Funds. A Fund of Funds will purchase and sell
shares of an Underlying Fund that is a closed-end
fund through secondary market transactions at
market prices rather than through principal
transactions with the closed-end fund. Accordingly,
applicants are not requesting section 17(a) relief
with respect to principal transactions with closedend funds.
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
exemption is consistent with the public
interest and the protection of investors.
Section 17(b) of the Act authorizes the
Commission to grant an order
permitting a transaction otherwise
prohibited by section 17(a) if it finds
that (a) the terms of the proposed
transaction are fair and reasonable and
do not involve overreaching on the part
of any person concerned; (b) the
proposed transaction is consistent with
the policies of each registered
investment company involved; and (c)
the proposed transaction is consistent
with the general purposes of the Act.
Section 6(c) of the Act permits the
Commission to exempt any persons or
transactions from any provision of the
Act if 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.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–18931 Filed 9–6–17; 8:45 am]
BILLING CODE P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81515; File No. SRBatsEDGX–2017–36]
Self-Regulatory Organizations; Bats
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend Rule
20.3, Trading Halts, and Rule 20.6,
Nullification and Adjustment of
Options Transactions Including
Obvious Errors
August 31, 2017.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
29, 2017, Bats EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange has
designated this proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(6)(iii)
thereunder,4 which renders it effective
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6)(iii).
2 17
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07SEN1
]]>Agencies
[Federal Register Volume 82, Number 172 (Thursday, September 7, 2017)]
[Notices]
[Pages 42381-42382]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-18931]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 32805; File No. 812-14754]
American Century International Bond Funds, et al.
August 31, 2017.
AGENCY: Securities and Exchange Commission.
ACTION: Notice.
-----------------------------------------------------------------------
Notice of an application for an order under section 12(d)(1)(J) of
the Investment Company Act of 1940 (the ``Act'') for an exemption from
sections 12(d)(1)(A), (B), and (C) of the Act and under sections 6(c)
and 17(b) of the Act for an exemption from sections 17(a)(1) and (2) of
the Act. The requested order would permit certain registered open-end
investment companies to acquire shares of certain registered open-end
investment companies, registered closed-end investment companies,
business development companies, as defined in section 2(a)(48) of the
Act (``BDCs'') and registered unit investment trusts (collectively,
``Underlying Funds'') that are within and outside the same group of
investment companies as the acquiring investment companies, in excess
of the limits in section 12(d)(1) of the Act.
Applicants: American Century International Bond Funds (``ACIBF''),
a Massachusetts business trust, and American Century Strategic Asset
Allocations, Inc. (``ACSAA''), a Maryland corporation, each registered
under the Act as an open-end management investment company with
multiple series (each series, a ``Fund'' and collectively, the
``Funds''); American Century Investment Management, Inc. (``ACIM'' or
the ``Advisor''), a Delaware Corporation registered as an investment
adviser under the Investment Advisers Act of 1940; and American Century
Investment Services, Inc., a Missouri corporation, registered as a
broker-dealer under the Securities Exchange Act of 1934 (``Exchange
Act'').
Filing Dates: The application was filed on March 7, 2017, and
amended on August 4, 2017.
Hearing or Notification of Hearing: An order granting the requested
relief 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 September 25, 2017 and should be accompanied by proof of
[[Page 42382]]
service on the 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: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090. Applicants: c/o Mr. Giles Walsh,
Esq., American Century Investments, 4500 Main Street, Kansas City,
Missouri 64111.
FOR FURTHER INFORMATION CONTACT: Elizabeth G. Miller, Senior Counsel,
at (202) 551-8707, or Holly Hunter-Ceci, Assistant Chief Counsel, at
(202) 551-6825 (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. Applicants request an order to permit (a) a Fund \1\ (each a
``Fund of Funds'') to acquire shares of Underlying Funds \2\ in excess
of the limits in sections 12(d)(1)(A) and (C) of the Act and (b) the
Underlying Funds that are registered open-end investment companies or
series thereof, their principal underwriters and any broker or dealer
registered under the Exchange Act to sell shares of the Underlying Fund
to the Fund of Funds in excess of the limits in section 12(d)(1)(B) of
the Act.\3\ Applicants also request an order of exemption under
sections 6(c) and 17(b) of the Act from the prohibition on certain
affiliated transactions in section 17(a) of the Act to the extent
necessary to permit the Underlying Funds to sell their shares to, and
redeem their shares from, the Funds of Funds.\4\ Applicants state that
such transactions will be consistent with the policies of each Fund of
Funds and each Underlying Fund and with the general purposes of the Act
and will be based on the net asset values of the Underlying Funds.
---------------------------------------------------------------------------
\1\ Applicants request that the order apply not only to any
existing series of ACIBF and ACSAA, but that the order also extend
to any future series of ACIBF and ACSAA, and any other existing or
future registered open-end management investment companies and any
series thereof that are, or in the future be, advised by the Advisor
or any other investment adviser controlling, controlled by or under
common control with the Advisor and that are part of the same group
of investment companies, as defined in section 12(d)(1)(G)(ii) of
the Act, as ACIBF and ACSAA (together with the existing series of
ACIBF and ACSAA, each series a ``Fund''). All references to the term
``Advisor'' include successors-in-interest to the Advisor. For
purposes of the requested order, a successor-in-interest is limited
to an entity that results from a reorganization into another
jurisdiction or a change in the type of business organization. For
purposes of the request for relief, the term ``group of investment
companies'' means any two or more registered investment companies,
including closed-end investment companies, that hold themselves out
to investors as related companies for purposes of investment and
investor services.
\2\ Certain of the Underlying Funds have obtained exemptions
from the Commission necessary to permit their shares to be listed
and traded on a national securities exchange at negotiated prices
and, accordingly, to operate as an exchange-traded fund (``ETF'').
\3\ Applicants do not request relief for the Funds of Funds to
invest in reliance on the order in BDCs and registered closed-end
investment companies that are not listed on a national securities
exchange.
\4\ A Fund of Funds generally would purchase and sell shares of
an Underlying Fund that operates as an ETF through secondary market
transactions rather than through principal transactions with the
Underlying Fund. Applicants nevertheless request relief from
sections 17(a)(1) and (2) to permit each Fund of Funds that is an
affiliated person, or an affiliated person of an affiliated person,
as defined in section 2(a)(3) of the Act, of an ETF to purchase or
redeem shares from the ETF. Applicants are not seeking relief from
section 17(a) for, and the requested relief will not apply to,
transactions where an ETF could be deemed an affiliated person, or
an affiliated person of an affiliated person, of a Fund of Funds
because an investment adviser to the ETF or an entity controlling,
controlled by or under common control with the investment adviser to
the ETF is also an investment adviser to the Fund of Funds. A Fund
of Funds will purchase and sell shares of an Underlying Fund that is
a closed-end fund through secondary market transactions at market
prices rather than through principal transactions with the closed-
end fund. Accordingly, applicants are not requesting section 17(a)
relief with respect to principal transactions with closed-end funds.
---------------------------------------------------------------------------
2. Applicants agree that any order granting the requested relief
will be subject to the terms and conditions stated in the application.
Such terms and conditions are designed to, among other things, help
prevent any potential (i) undue influence over an Underlying Fund that
is not in the same ``group of investment companies'' as the Fund of
Funds through control or voting power, or in connection with certain
services, transactions, and underwritings, (ii) excessive layering of
fees, and (iii) overly complex fund structures, which are the concerns
underlying the limits in sections 12(d)(1)(A), (B), and (C) of the Act.
3. Section 12(d)(1)(J) of the Act provides that the Commission may
exempt any person, security, or transaction, or any class or classes of
persons, securities, or transactions, from any provision of section
12(d)(1) if the exemption is consistent with the public interest and
the protection of investors. Section 17(b) of the Act authorizes the
Commission to grant an order permitting a transaction otherwise
prohibited by section 17(a) if it finds that (a) the terms of the
proposed transaction are fair and reasonable and do not involve
overreaching on the part of any person concerned; (b) the proposed
transaction is consistent with the policies of each registered
investment company involved; and (c) the proposed transaction is
consistent with the general purposes of the Act. Section 6(c) of the
Act permits the Commission to exempt any persons or transactions from
any provision of the Act if 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.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-18931 Filed 9-6-17; 8:45 am]
BILLING CODE P
