Sunshine Act Meetings, 50738-50739 [2018-21995]
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50738
Federal Register / Vol. 83, No. 195 / Tuesday, October 9, 2018 / Notices
amozie on DSK3GDR082PROD with NOTICES1
will be based on the current bid/offer
market. Any order granting the
requested relief would be subject to the
terms and conditions stated in the
application.
2. Each Fund will hold investment
positions selected to correspond closely
to the performance of an Underlying
Index. In the case of Self-Indexing
Funds, an affiliated person, as defined
in section 2(a)(3) of the Act (‘‘Affiliated
Person’’), or an affiliated person of an
Affiliated Person (‘‘Second-Tier
Affiliate’’), of the Trust or a Fund, of the
Adviser, of any sub-adviser to or
promoter of a Fund, or of the Distributor
will create the Underlying Index.2
3. Shares will be purchased and
redeemed in Creation Units and
generally on an in-kind basis. Except
where the purchase or redemption will
include cash under the limited
circumstances specified in the
application, purchasers will be required
to purchase Creation Units by
depositing specified instruments
(‘‘Deposit Instruments’’), and
shareholders redeeming their shares
will receive specified instruments
(‘‘Redemption Instruments’’). The
Deposit Instruments and the
Redemption Instruments will each
correspond pro rata to the positions in
the Fund’s portfolio (including cash
positions) except as specified in the
application.
4. Because shares will not be
individually redeemable, applicants
request an exemption from section
5(a)(1) and section 2(a)(32) of the Act
that would permit the Funds to register
as open-end management investment
companies and issue shares that are
redeemable in Creation Units.
5. Applicants also request an
exemption from section 22(d) of the Act
and rule 22c–1 under the Act as
secondary market trading in shares will
take place at negotiated prices, not at a
current offering price described in a
Fund’s prospectus, and not at a price
based on NAV. Applicants state that (a)
secondary market trading in shares does
not involve a Fund as a party and will
not result in dilution of an investment
in shares, and (b) to the extent different
prices exist during a given trading day,
or from day to day, such variances occur
as a result of third-party market forces,
such as supply and demand. Therefore,
applicants assert that secondary market
2 Each Self-Indexing Fund will post on its website
the identities and quantities of the investment
positions that will form the basis for the Fund’s
calculation of its NAV at the end of the day.
Applicants believe that requiring Self-Indexing
Funds to maintain full portfolio transparency will
help address, together with other protections,
conflicts of interest with respect to such Funds.
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19:13 Oct 05, 2018
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transactions in shares will not lead to
discrimination or preferential treatment
among purchasers. Finally, applicants
represent that share market prices will
be disciplined by arbitrage
opportunities, which should prevent
shares from trading at a material
discount or premium from NAV.
6. With respect to Funds that effect
creations and redemptions of Creation
Units in kind and that are based on
certain Underlying Indexes that include
foreign securities, applicants request
relief from the requirement imposed by
section 22(e) in order to allow such
Funds to pay redemption proceeds
within fifteen calendar days following
the tender of Creation Units for
redemption. Applicants assert that the
requested relief would not be
inconsistent with the spirit and intent of
section 22(e) to prevent unreasonable,
undisclosed or unforeseen delays in the
actual payment of redemption proceeds.
7. Applicants request an exemption to
permit Funds of Funds to acquire Fund
shares beyond the limits of section
12(d)(1)(A) of the Act; and the Funds,
and any principal underwriter for the
Funds, and/or any broker or dealer
registered under the Exchange Act, to
sell shares to Funds of Funds beyond
the limits of section 12(d)(1)(B) of the
Act. The application’s terms and
conditions are designed to, among other
things, help prevent any potential (i)
undue influence over a Fund 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) and (B) of the
Act.
8. Applicants request an exemption
from sections 17(a)(1) and 17(a)(2) of the
Act to permit persons that are Affiliated
Persons, or Second Tier Affiliates, of the
Funds, solely by virtue of certain
ownership interests, to effectuate
purchases and redemptions in-kind. The
deposit procedures for in-kind
purchases of Creation Units and the
redemption procedures for in-kind
redemptions of Creation Units will be
the same for all purchases and
redemptions, and Deposit Instruments
and Redemption Instruments will be
valued in the same manner as those
investment positions currently held by
the Funds. Applicants also seek relief
from the prohibitions on affiliated
transactions in section 17(a) to permit a
Fund to sell its shares to and redeem its
shares from a Fund of Funds, and to
engage in the accompanying in-kind
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transactions with the Fund of Funds.3
The purchase of Creation Units by a
Fund of Funds directly from a Fund will
be accomplished in accordance with the
policies of the Fund of Funds and will
be based on the NAVs of the Funds.
9. 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. 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.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–21874 Filed 10–5–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meetings
Notice is hereby given,
pursuant to the provisions of the
Government in the Sunshine Act, Public
Law 94–409, the Securities and
Exchange Commission will hold an
Open Meeting on Thursday, October 11,
2018 at 1:00 p.m.
PLACE: The meeting will be held in
Auditorium LL–002 at the
TIME AND DATE:
3 The requested relief would apply to direct sales
of shares in Creation Units by a Fund to a Fund of
Funds and redemptions of those shares. Applicants,
moreover, are not seeking relief from section 17(a)
for, and the requested relief will not apply to,
transactions where a Fund could be deemed an
Affiliated Person, or a Second-Tier Affiliate, of a
Fund of Funds because an Adviser or an entity
controlling, controlled by or under common control
with an Adviser provides investment advisory
services to that Fund of Funds.
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09OCN1
Federal Register / Vol. 83, No. 195 / Tuesday, October 9, 2018 / Notices
Commission’s headquarters, 100 F
Street NE, Washington, DC 20549.
STATUS: This meeting will begin at 1:00
p.m. (ET) and will be open to the public.
Seating will be on a first-come, firstserved basis. Visitors will be subject to
security checks. The meeting will be
webcast on the Commission’s website at
www.sec.gov.
MATTERS TO BE CONSIDERED:
1. The Commission will consider
whether to reopen the comment period
and request additional comment
(including potential modifications to
proposed rule language) regarding: (1)
Capital, margin, and segregation
requirements for security-based swap
dealers and major security-based swap
participants, and amendments to Rule
15c3–1 for broker-dealers proposed in
October 2012; (2) amendments proposed
in May 2013 that would establish the
cross-border treatment of security-based
swap capital, margin, and segregation
requirements; and (3) an amendment
proposed in April 2014 that would
establish an additional capital
requirement for security-based swap
dealers that do not have a prudential
regulator.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
CONTACT PERSON FOR MORE INFORMATION:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed; please contact
Brent J. Fields from the Office of the
Secretary at (202) 551–5400.
Dated: October 3, 2018.
Brent J. Fields,
Secretary.
[FR Doc. 2018–21995 Filed 10–4–18; 4:15 pm]
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Delegation of Authority No. 460]
amozie on DSK3GDR082PROD with NOTICES1
Delegation of Authority by the
Secretary of State to the Administrator
of the United States Agency for
International Development of
Functions and Authorities Under the
Reinforcing Education Accountability
in Development Act
By virtue of the authority vested in
the Secretary of State by the laws of the
United States, including section 1 of the
State Department Basic Authorities Act
(22 U.S.C. 2651a), and the
Memorandum of the President dated
August 31, 2018, I hereby delegate to the
Administrator of the United States
Agency for International Development
the functions and authorities conferred
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upon the President by sections 4, 6, and
7 of the Reinforcing Education
Accountability in Development (READ)
Act (Div. A, Pub. L. 115–56).
Any reference in this delegation of
authority to any act shall be deemed to
be a reference to such act as amended
from time to time. The Administrator of
the United States Agency for
International Development may redelegate the functions delegated by this
delegation of authority, as appropriate,
to the extent authorized by law.
This document shall be published in
the Federal Register.
Dated: September 13, 2018.
Michael R. Pompeo,
Secretary of State, Department of State.
[FR Doc. 2018–21897 Filed 10–5–18; 8:45 am]
BILLING CODE 4710–10–P
DEPARTMENT OF STATE
[Public Notice: 10583]
Notice of Public Meeting of the
President’s Emergency Plan for AIDS
Relief (PEPFAR) Scientific Advisory
Board
In accordance with the Federal
Advisory Committee Act (FACA), the
PEPFAR Scientific Advisory Board
(hereinafter referred to as ‘‘the Board’’)
will meet on Friday, October 12, 2018
at 1800 G St. NW, Suite 10300,
Washington, DC 20006. The meeting
will last from 8:30 a.m. until
approximately 5:00 p.m. and is open to
the public. The meeting will be hosted
by the Office of the U.S. Global AIDS
Coordinator and Health Diplomacy, and
led by Ambassador Deborah Birx, who
leads implementation of the President’s
Emergency Plan for AIDS Relief
(PEPFAR), and the Board Chair, Dr.
Carlos del Rio.
The Board serves solely in an
advisory capacity concerning scientific
developments, program
implementation, and policy matters
related to the global response to the HIV
epidemic, which can influence the
priorities and direction of PEPFAR
evaluation and research, the content of
national and international strategies,
and the role of PEPFAR in international
discourse regarding an appropriate and
resourced response. Topics for the
meeting will include the risks and
benefits of fixed-dose Dolutegravir in
light of a preliminary safety signal for
women using it at the time of
conception; approaches for monitoring
progress as countries approach
epidemic control; HPV vaccination to
prevent cervical cancer; and new data
from the Determined, Resilient,
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50739
Empowered, AIDS-Free, Mentored, and
Safe (DREAMS) initiative.
The public may attend this meeting as
seating capacity allows. Admittance to
the meeting will be by means of a prearranged clearance list. In order to be
placed on the list and, if applicable, to
request reasonable accommodation,
please register online as soon as possible
(https://docs.google.com/forms/d/e/
1FAIpQLSccvU95o_2MsSn8jRwGI4r9
kpxBSkOQ-nARjdwNaa3HIn8PMg/
viewform?c=0&w=1). While the meeting
is open to public attendance, the Board
will determine procedures for public
participation.
This announcement will appear in the
Federal Register less than 15 days prior
to the meeting. The Department of State
finds that there is an exceptional
circumstance in that this advisory
committee meeting must be held on
October 12th for the following reasons:
• On May 18, the World Health
Organization (WHO) issued
recommendations for Dolutegravir use
by women of childbearing age living
with HIV, following unscheduled,
interim analysis of an ongoing
observational study in Botswana that
found an increased risk of neural tube
defects in children born to women
taking Dolutegravir at the time of
conception.
• The final results of the study, which
are needed to confirm or dispel these
observations, are expected in early 2019.
• However, many countries have
taken a very conservative interpretation
of WHO’s recommendations and are
withholding a preferred first-line
antiretroviral medication from women
of child-bearing age, who constitute the
majority of persons receiving HIV
medical treatment in PEPFARsupported programs.
• These policies deny women access
to a regimen that offers superior time-toviral suppression, side effect, and
resistance profiles.
• Two independent modeling studies
have shown that the clinical and public
health benefits of Dolutegravir vastly
outweigh the risk of possible and rare,
birth defects. A consultation with
African women living with HIV
infection underscored that they be
permitted to make informed decisions
about their own medical care and to opt
to take Dolutegravir rather than other,
inferior regimens.
Given the above facts, the Department
urgently needs the advice of the
PEPFAR SAB to inform treatment
considerations that the Department
must release as part of its 2019 Country
Operational Plan guidance that will be
developed in November-December 2018,
for release in January 2019. October
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09OCN1
]]>Agencies
[Federal Register Volume 83, Number 195 (Tuesday, October 9, 2018)]
[Notices]
[Pages 50738-50739]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-21995]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meetings
TIME AND DATE: Notice is hereby given, pursuant to the provisions of
the Government in the Sunshine Act, Public Law 94-409, the Securities
and Exchange Commission will hold an Open Meeting on Thursday, October
11, 2018 at 1:00 p.m.
PLACE: The meeting will be held in Auditorium LL-002 at the
[[Page 50739]]
Commission's headquarters, 100 F Street NE, Washington, DC 20549.
STATUS: This meeting will begin at 1:00 p.m. (ET) and will be open to
the public. Seating will be on a first-come, first-served basis.
Visitors will be subject to security checks. The meeting will be
webcast on the Commission's website at www.sec.gov.
MATTERS TO BE CONSIDERED:
1. The Commission will consider whether to reopen the comment
period and request additional comment (including potential
modifications to proposed rule language) regarding: (1) Capital,
margin, and segregation requirements for security-based swap dealers
and major security-based swap participants, and amendments to Rule
15c3-1 for broker-dealers proposed in October 2012; (2) amendments
proposed in May 2013 that would establish the cross-border treatment of
security-based swap capital, margin, and segregation requirements; and
(3) an amendment proposed in April 2014 that would establish an
additional capital requirement for security-based swap dealers that do
not have a prudential regulator.
At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
CONTACT PERSON FOR MORE INFORMATION: For further information and to
ascertain what, if any, matters have been added, deleted or postponed;
please contact Brent J. Fields from the Office of the Secretary at
(202) 551-5400.
Dated: October 3, 2018.
Brent J. Fields,
Secretary.
[FR Doc. 2018-21995 Filed 10-4-18; 4:15 pm]
BILLING CODE 8011-01-P
