Notice of Renewal of the Charter of the International Telecommunication Advisory Committee (ITAC), 33287 [2018-15258]
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Federal Register / Vol. 83, No. 137 / Tuesday, July 17, 2018 / Notices
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the board of trustees of the Trust
(‘‘Board’’), provides continuous
investment management of the assets of
each Subadvised Fund. Consistent with
the terms of the Investment
Management Agreement, the Adviser
may, subject to the approval of the
Board, delegate portfolio management
responsibilities of all or a portion of the
assets of a Subadvised Fund to one or
more Sub-Advisers.2 The Adviser will
continue to have overall responsibility
for the management and investment of
the assets of each Subadvised Fund. The
Adviser will evaluate, select, and
recommend Sub-Advisers to manage the
assets of a Subadvised Fund and will
oversee, monitor and review the SubAdvisers and their performance and
recommend the removal or replacement
of Sub-Advisers.
2. Applicants request an order to
permit the Adviser, subject to the
approval of the Board, to enter into
investment sub-advisory agreements
with the Sub-Advisers (each, a ‘‘SubAdvisory Agreement’’) and materially
amend such Sub-Advisory Agreements
without obtaining the shareholder
approval required under section 15(a) of
the Act and rule 18f–2 under the Act.3
Applicants also seek an exemption from
the Disclosure Requirements to permit a
Subadvised Fund to disclose (as both a
dollar amount and a percentage of the
Subadvised Fund’s net assets): (a) The
aggregate fees paid to the Adviser and
any Wholly-Owned Sub-Advisers; (b)
the aggregate fees paid to Non-Affiliated
Sub-Advisers; and (c) the fee paid to
each Affiliated Sub-Adviser
(collectively, Aggregate Fee
Disclosure’’).4
2 As used herein, a ‘‘Sub-Adviser’’ for a
Subadvised Fund is (1) an indirect or direct
‘‘wholly owned subsidiary’’ (as such term is defined
in the Act) of the Adviser for that Subadvised Fund,
or (2) a sister company of the Adviser for that
Subadvised Fund that is an indirect or direct
‘‘wholly-owned subsidiary’’ of the same company
that, indirectly or directly, wholly owns the Adviser
(each of (1) and (2) a ‘‘Wholly-Owned Sub-Adviser’’
and collectively, the ‘‘Wholly-Owned SubAdvisers’’), or (3) not an ‘‘affiliated person’’ (as such
term is defined in section 2(a)(3) of the Act) of the
Subadvised Fund, any Feeder Fund invested in a
Master Fund, the Trust, or the Adviser, except to
the extent that an affiliation arises solely because
the Sub-Adviser serves as a sub-adviser to a
Subadvised Fund (‘‘Non-Affiliated Sub-Advisers’’).
3 The requested relief will not extend to any subadviser, other than a Wholly-Owned Sub-Adviser,
who is an affiliated person, as defined in section
2(a)(3) of the Act, of the Subadvised Fund, of any
Feeder Fund, or of the Adviser, other than by
reason of serving as a sub-adviser to one or more
of the Subadvised Funds (‘‘Affiliated SubAdviser’’).
4 For any Subadvised Fund that is a Master Fund,
the relief would also permit any Feeder Fund
invested in that Master Fund to disclose Aggregate
Fee Disclosure.
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3. 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 provide for, among other
safeguards, appropriate disclosure to
Subadvised Funds’ shareholders and
notification about sub-advisory changes
and enhanced Board oversight to protect
the interests of the Subadvised Funds’
shareholders.
4. Section 6(c) 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 provisions of the
Act, or any rule thereunder, if such
relief is necessary or appropriate in the
public interest and consistent with the
protection of investors and purposes
fairly intended by the policy and
provisions of the Act. Applicants
believe that the requested relief meets
this standard because, as further
explained in the application, the
Investment Management Agreements
will remain subject to shareholder
approval, while the role of the SubAdvisers is substantially equivalent to
that of individual portfolio managers, so
that requiring shareholder approval of
Sub-Advisory Agreements would
impose unnecessary delays and
expenses on the Subadvised Funds.
Applicants believe that the requested
relief from the Disclosure Requirements
meets this standard because it will
improve the Adviser’s ability to
negotiate fees paid to the Sub-Advisers
that are more advantageous for the
Subadvised Funds.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–15173 Filed 7–16–18; 8:45 am]
BILLING CODE 8011–01–P
33287
the International Telecommunication
Advisory Committee has been renewed
for another two years. The ITAC
consists of members of the
telecommunications industry, ranging
from network operators and service
providers to equipment vendors,
members of academia, members of civil
society, and officials of interested
government agencies. The ITAC
provides views and advice to the
Department of State on positions on
international telecommunications and
information policy matters. This advice
has been a major factor in ensuring that
the United States was well prepared to
participate effectively in the
international telecommunications and
information policy arena, including the
International Telecommunication Union
(ITU), the Organization of American
States Inter-American
Telecommunication Commission
(CITEL), the Organization for Economic
Cooperation and Development (OECD),
the Asia Pacific Economic Cooperation
Forum Telecommunications and
Information Working Group, and other
international bodies addressing
communication and information policy
issues.
FOR FURTHER INFORMATION CONTACT:
Please contact Franz Zichy at 202–647–
5778, zichyfj@state.gov.
Stephan A. Lang,
Acting Director, Multilateral Affairs, Cyber
and International Communications and
Information Policy, U.S. Department of State.
[FR Doc. 2018–15258 Filed 7–16–18; 8:45 am]
BILLING CODE 4710–07–P
DEPARTMENT OF TRANSPORTATION
Federal Highway Administration
Notice of Public Meeting: National
Dialogue on Highway Automation
Federal Highway
Administration (FHWA), U.S.
Department of Transportation (DOT).
ACTION: Notice of public meetings.
AGENCY:
DEPARTMENT OF STATE
[Public Notice: 10464]
Notice of Renewal of the Charter of the
International Telecommunication
Advisory Committee (ITAC)
This notice announces the renewal of
the Charter for the International
Telecommunication Advisory
Committees (ITAC). In accordance with
the provisions of the Federal Advisory
Committee Act (Pub. L. 92–463, 5 U.S.C.
Appendix) and the general authority of
the Secretary of State and the
Department of State set forth in Title 22
of the United States code, in particular
Sections 2656 and 2707, the charter of
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The FHWA is holding a
National Dialogue on Highway
Automation through a series of public
meetings across the country to seek
input on the integration of automated
vehicles on the Nation’s roadways. The
objectives of the public meetings are: (1)
To engage with a diverse group of
stakeholders to understand key issues
regarding automated vehicles and their
implications for the roadway
infrastructure; and (2) to gather input on
highway automation to help inform
FHWA research, policy, and programs.
The public meetings will have
SUMMARY:
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[Federal Register Volume 83, Number 137 (Tuesday, July 17, 2018)]
[Notices]
[Page 33287]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-15258]
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DEPARTMENT OF STATE
[Public Notice: 10464]
Notice of Renewal of the Charter of the International
Telecommunication Advisory Committee (ITAC)
This notice announces the renewal of the Charter for the
International Telecommunication Advisory Committees (ITAC). In
accordance with the provisions of the Federal Advisory Committee Act
(Pub. L. 92-463, 5 U.S.C. Appendix) and the general authority of the
Secretary of State and the Department of State set forth in Title 22 of
the United States code, in particular Sections 2656 and 2707, the
charter of the International Telecommunication Advisory Committee has
been renewed for another two years. The ITAC consists of members of the
telecommunications industry, ranging from network operators and service
providers to equipment vendors, members of academia, members of civil
society, and officials of interested government agencies. The ITAC
provides views and advice to the Department of State on positions on
international telecommunications and information policy matters. This
advice has been a major factor in ensuring that the United States was
well prepared to participate effectively in the international
telecommunications and information policy arena, including the
International Telecommunication Union (ITU), the Organization of
American States Inter-American Telecommunication Commission (CITEL),
the Organization for Economic Cooperation and Development (OECD), the
Asia Pacific Economic Cooperation Forum Telecommunications and
Information Working Group, and other international bodies addressing
communication and information policy issues.
FOR FURTHER INFORMATION CONTACT: Please contact Franz Zichy at 202-647-
5778, [email protected].
Stephan A. Lang,
Acting Director, Multilateral Affairs, Cyber and International
Communications and Information Policy, U.S. Department of State.
[FR Doc. 2018-15258 Filed 7-16-18; 8:45 am]
BILLING CODE 4710-07-P
