Public Availability of Social Security Administration Fiscal Year (FY) 2016 Service Contract Inventory, 7828 [2018-03650]

Download as PDF 7828 Federal Register / Vol. 83, No. 36 / Thursday, February 22, 2018 / Notices 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 website 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. daltland on DSKBBV9HB2PROD 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 companies or series thereof, their principal underwriters and any broker or dealer registered under the Securities Exchange Act of 1934 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 1 Applicants request that the order apply to each existing and future series of Morningstar Funds Trust and to each existing and future registered open-end investment company or series thereof that is advised by Morningstar Investment Management LLC or its successor or by any other investment adviser controlling, controlled by or under common control with Morningstar Investment Management LLC or its successor and is part of the same ‘‘group of investment companies’’ as Morningstar Funds Trust (each, a ‘‘Fund’’). For purposes of the requested order, ‘‘successor’’ 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 and business development 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 Funds of Funds to invest in reliance on the order in business development companies and registered closed-end investment companies that are not listed and traded 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 or closed-end fund 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 ETF or Unaffiliated ClosedEnd Investment Company that is an affiliated VerDate Sep<11>2014 20:10 Feb 21, 2018 Jkt 244001 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 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 person, or an affiliated person of an affiliated person, as defined in section 2(a)(3) of the 1940 Act, of a Fund of Funds to sell shares to or redeem shares from the Fund of Funds. This includes, in the case of sales and redemptions of shares of ETFs, the in-kind transactions that accompany such sales and redemptions. The Applicants are not seeking relief from section 17(a) for, and the requested relief will not apply to, transactions where an ETF, business development company, or closed-end fund 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, business development company, or closed-end fund or an entity controlling, controlled by or under common control with the investment adviser to the ETF, business development company, or closed-end fund, is also an investment adviser to the Fund of Funds. PO 00000 Frm 00175 Fmt 4703 Sfmt 9990 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. 2018–03570 Filed 2–21–18; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2018–0006] Public Availability of Social Security Administration Fiscal Year (FY) 2016 Service Contract Inventory AGENCY: Social Security Administration. Notice of public availability of FY 2016 Service Contract Inventories. ACTION: In accordance with section 743 of Division C of the Consolidated Appropriations Act of 2010, we are publishing this notice to advise the public of the availability of the FY 2016 Service Contract inventory. This inventory provides information on FY 2016 service contract actions over $25,000. We organized the information by function to show how we distribute contracted resources throughout the agency. We developed the inventory in accordance with guidance issued on December 19, 2011 by the Office of Management and Budget’s Office of Federal Procurement Policy (OFPP). OFPP’s guidance is available at https:// obamawhitehouse.archives.gov/sites/ default/files/omb/procurement/memo/ service-contract-inventory-guidance.pdf. You can access the inventory and summary of the inventory on our homepage at the following link: https:// www.socialsecurity.gov/sci. SUMMARY: FOR FURTHER INFORMATION CONTACT: Steven Knight Jr., Office of Budget, Social Security Administration, 6401 Security Boulevard, Baltimore, MD 21235–6401. Phone (410) 965–5522, email Steven.Knight.Jr@ssa.gov. Dated: February 14, 2018. Michelle King, Acting Deputy Commissioner for Budget, Finance, Quality, and Management. [FR Doc. 2018–03650 Filed 2–21–18; 8:45 am] BILLING CODE 4191–02–P E:\FR\FM\22FEN1.SGM 22FEN1

Agencies

[Federal Register Volume 83, Number 36 (Thursday, February 22, 2018)]
[Notices]
[Page 7828]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-03650]


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SOCIAL SECURITY ADMINISTRATION

[Docket No. SSA-2018-0006]


Public Availability of Social Security Administration Fiscal Year 
(FY) 2016 Service Contract Inventory

AGENCY: Social Security Administration.

ACTION: Notice of public availability of FY 2016 Service Contract 
Inventories.

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SUMMARY: In accordance with section 743 of Division C of the 
Consolidated Appropriations Act of 2010, we are publishing this notice 
to advise the public of the availability of the FY 2016 Service 
Contract inventory. This inventory provides information on FY 2016 
service contract actions over $25,000. We organized the information by 
function to show how we distribute contracted resources throughout the 
agency. We developed the inventory in accordance with guidance issued 
on December 19, 2011 by the Office of Management and Budget's Office of 
Federal Procurement Policy (OFPP). OFPP's guidance is available at 
https://obamawhitehouse.archives.gov/sites/default/files/omb/procurement/memo/service-contract-inventory-guidance.pdf. You can 
access the inventory and summary of the inventory on our homepage at 
the following link: https://www.socialsecurity.gov/sci.

FOR FURTHER INFORMATION CONTACT: Steven Knight Jr., Office of Budget, 
Social Security Administration, 6401 Security Boulevard, Baltimore, MD 
21235-6401. Phone (410) 965-5522, email [email protected].

    Dated: February 14, 2018.
Michelle King,
Acting Deputy Commissioner for Budget, Finance, Quality, and 
Management.
[FR Doc. 2018-03650 Filed 2-21-18; 8:45 am]
 BILLING CODE 4191-02-P
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