Sunshine Act Meetings, 57015 [2017-26103]
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Federal Register / Vol. 82, No. 230 / Friday, December 1, 2017 / Notices
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 December 22, 2017, and
should be accompanied by proof of
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, 3250 Lacey Road, Suite 130,
Downers Grove, IL 60515, and Morrison
C. Warren, Walter L. Draney and
Suzanne M. Russell, Chapman and
Cutler LLP, 111 West Monroe Street,
Chicago, IL 60603.
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. Applicants request an order to
permit (a) a Series 1 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, their principal underwriters
and any broker or dealer registered
under the Exchange Act to sell shares of
the Underlying Funds to the Series in
excess of the limits in section
12(d)(1)(B) of the Act.3 Applicants also
sradovich on DSK3GMQ082PROD with NOTICES
1 Applicants
request that the order apply to each
existing and future series of the Trust and to any
future registered UIT and series thereof sponsored
by Ausdal or an entity controlling, controlled by or
under common control with Ausdal (the ‘‘Series’’).
2 Certain of the Underlying Funds may be
registered as an open-end investment company or
a UIT, but have received exemptive relief from the
Commission to permit their shares to be listed and
traded on a national securities exchange at
negotiated prices and to operate as exchange-traded
funds (‘‘ETFs’’).
3 Applicants do not request relief for the Series to
invest in reliance on the order in closed-end
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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
Series.4 Applicants state that such
transactions will be consistent with the
policies of each Series 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 UIT
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
investment companies that are not listed and traded
on a national securities exchange.
4 A Series 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 section 17(a) to permit a Series to
purchase or redeem shares from the ETF. A Series
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 transactions in
shares of closed-end funds.
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57015
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. 2017–25849 Filed 11–30–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 82 FR 56089, November
27, 2017.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Friday, December 1, 2017.
The following
matter will also be considered during
the 12 p.m. Closed Meeting scheduled
for Friday, December 1, 2017: Formal
orders of investigation.
CHANGES IN THE MEETING:
CONTACT PERSON FOR MORE INFORMATION:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed, please contact the
Office of the Secretary at (202) 551–
5400.
Dated: November 29, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017–26103 Filed 11–29–17; 4:15 pm]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82156; File No. SR–OCC–
2017–019]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Filing of a Proposed Rule Change,
as Modified by Amendment No. 1,
Concerning the Adoption of a New
Minimum Cash Requirement for the
Clearing Fund
November 27, 2017.
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 November
14, 2017, The Options Clearing
Corporation (‘‘OCC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
1 15
2 17
E:\FR\FM\01DEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
01DEN1
]]>Agencies
[Federal Register Volume 82, Number 230 (Friday, December 1, 2017)]
[Notices]
[Page 57015]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26103]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meetings
FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: 82 FR 56089,
November 27, 2017.
PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Friday, December 1,
2017.
CHANGES IN THE MEETING: The following matter will also be considered
during the 12 p.m. Closed Meeting scheduled for Friday, December 1,
2017: Formal orders of investigation.
CONTACT PERSON FOR MORE INFORMATION: For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact the Office of the Secretary at (202) 551-5400.
Dated: November 29, 2017.
Brent J. Fields,
Secretary.
[FR Doc. 2017-26103 Filed 11-29-17; 4:15 pm]
BILLING CODE 8011-01-P
