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, 66785 [C1-2018-26405]

Download as PDF 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 PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 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 27DEN1

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: C1-2018-26405]


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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
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