Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Pilot Period for the Listing of P.M.-Settled Nasdaq-100 Index Options Expiring on the Third Friday of the Month, 66785 [C1-2018-26396]
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Federal Register / Vol. 83, No. 247 / Thursday, December 27, 2018 / Notices
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
Portfolio Instruments 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
transactions with the Fund of Funds.2
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. Applicants also request relief to
permit a Feeder Fund to acquire shares
of another registered investment
company managed by the Adviser
having substantially the same
investment objectives as the Feeder
Fund (‘‘Master Fund’’) beyond the
limitations in section 12(d)(1)(A) and
permit the Master Fund, and any
principal underwriter for the Master
Fund, to sell shares of the Master Fund
to the Feeder Fund beyond the
limitations in section 12(d)(1)(B).
10. 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
khammond on DSK30JT082PROD with NOTICES
2 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.
VerDate Sep<11>2014
17:14 Dec 26, 2018
Jkt 247001
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.
Brent J. Fields,
Secretary.
[FR Doc. 2018–27985 Filed 12–26–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84682; File No. SR–ISE–
2018–95]
Self-Regulatory Organizations; Nasdaq
ISE, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend
Supplementary Material .07 to ISE Rule
722
November 29, 2018.
Correction
In notice document 2018–26405
beginning on page 62938 in the issue of
Thursday, December 6, 2018, make the
following correction:
On page 62939, in the third column,
the last line of the first full paragraph
‘‘December 26, 2018’’ should read
‘‘December 27, 2018’’.
[FR Doc. C1–2018–26405 Filed 12–26–18; 8:45 am]
BILLING CODE 1301–00–D
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84685; File No. SR–Phlx–
2018–76]
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the Pilot
Period for the Listing of P.M.-Settled
Nasdaq-100 Index Options Expiring on
the Third Friday of the Month
November 29, 2018.
Correction
In notice document 2018–26396
beginning on page 62942 in the issue of
Thursday, December 6, 2018, make the
following correction:
On page 62943, in the third column,
the last line of the first full paragraph
‘‘December 26, 2018’’ should read
‘‘December 27, 2018’’.
[FR Doc. C1–2018–26396 Filed 12–26–18; 8:45 am]
BILLING CODE 1301–00–D
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66785
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
33330; 812–14960]
OSI ETF Trust, et al.
December 19, 2018.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:
Notice of an application for an order
under section 6(c) of the Investment
Company Act of 1940 (the ‘‘Act’’) for an
exemption from sections 2(a)(32),
5(a)(1), 22(d), and 22(e) of the Act and
rule 22c–1 under the Act, under
sections 6(c) and 17(b) of the Act for an
exemption from sections 17(a)(1) and
17(a)(2) of the Act, and under section
12(d)(1)(J) for an exemption from
sections 12(d)(1)(A) and 12(d)(1)(B) of
the Act. The requested order would
permit (a) actively-managed series of
certain open-end management
investment companies (‘‘Funds’’) to
issue shares redeemable in large
aggregations only (‘‘Creation Units’’); (b)
secondary market transactions in Fund
shares to occur at negotiated market
prices rather than at net asset value
(‘‘NAV’’); (c) certain Funds to pay
redemption proceeds, under certain
circumstances, more than seven days
after the tender of shares for
redemption; (d) certain affiliated
persons of a Fund to deposit securities
into, and receive securities from, the
Fund in connection with the purchase
and redemption of Creation Units; (e)
certain registered management
investment companies and unit
investment trusts outside of the same
group of investment companies as the
Funds (‘‘Funds of Funds’’) to acquire
shares of the Funds; and (f) certain
Funds (‘‘Feeder Funds’’) to create and
redeem Creation Units in-kind in a
master-feeder structure.
Applicants: OSI ETF Trust (the
‘‘Trust’’), a Delaware statutory trust that
is registered under the Act as an openend management investment company
with multiple series, O’Shares
Investment Advisers, LLC (‘‘Initial
Adviser’’), a Delaware limited liability
company registered as an investment
adviser under the Investment Advisers
Act of 1940, and Foreside Fund
Services, LLC (the ‘‘Distributor’’), a
Delaware limited liability company and
broker-dealer registered under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’).
Filing Dates: The application was
filed on October 3, 2018.
Hearing or Notification of Hearing: An
order granting the requested relief will
E:\FR\FM\27DEN1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 247 (Thursday, December 27, 2018)]
[Notices]
[Page 66785]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: C1-2018-26396]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84685; File No. SR-Phlx-2018-76]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the Pilot
Period for the Listing of P.M.-Settled Nasdaq-100 Index Options
Expiring on the Third Friday of the Month
November 29, 2018.
Correction
In notice document 2018-26396 beginning on page 62942 in the issue
of Thursday, December 6, 2018, make the following correction:
On page 62943, in the third column, the last line of the first full
paragraph ``December 26, 2018'' should read ``December 27, 2018''.
[FR Doc. C1-2018-26396 Filed 12-26-18; 8:45 am]
BILLING CODE 1301-00-D
