Sunshine Act Meeting; Cancellation, 20429 [2021-08121]
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Federal Register / Vol. 86, No. 73 / Monday, April 19, 2021 / Notices
FOR FURTHER INFORMATION CONTACT:
Barbara T. Heussler, Senior Counsel, at
(202) 551–6990 or Trace W. Rakestraw,
Branch Chief, at (202) 551–6825
(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.
Applicants
1. The Trust is a business trust
established under the laws of
Massachusetts and will consist of one or
more series operating as ActiveShares
ETFs. The Trust is registered as an
open-end management investment
company under the Act. Applicants
seek relief with respect to Funds (as
defined below), including three initial
Funds (‘‘Initial Funds’’). The Funds will
operate as ActiveShares ETFs as
described in the Reference Order.2
2. The Initial Adviser, a Delaware
limited liability company, will be the
investment adviser to the Initial Funds.
An Adviser (as defined below) will
serve as investment adviser to each
Fund. The Initial Adviser is, and any
other Adviser will be, registered as an
investment adviser under the
Investment Advisers Act of 1940
(‘‘Advisers Act’’). The Adviser may
enter into sub-advisory agreements with
other investment advisers to act as subadvisers with respect to the Funds (each
a ‘‘Sub-Adviser’’). Any Sub-Adviser will
be registered under the Advisers Act.
3. The Distributor is a Pennsylvania
corporation and a broker-dealer
registered under the Securities
Exchange Act of 1934, as amended, and
will act as the principal underwriter of
Shares of the Funds. Applicants request
that the requested relief apply to any
distributor of Shares, whether affiliated
or unaffiliated with the Adviser and/or
Sub-Adviser (included in the term
‘‘Distributor’’). Any Distributor will
comply with the terms and conditions
of the Order.
jbell on DSKJLSW7X2PROD with NOTICES
Applicants’ Requested Exemptive Relief
4. Applicants seek the requested
Order under section 6(c) of the Act for
2 To
facilitate arbitrage, an ActiveShares ETF
disseminates a ‘‘verified intraday indicative value’’
or ‘‘VIIV,’’ reflecting the value of its portfolio
holdings, calculated every second during the
trading day. To protect the identity and weightings
of its portfolio holdings, an ActiveShares ETF sells
and redeems its Shares in creation units to
authorized participants only through an unaffiliated
broker-dealer acting on an agency basis.
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an exemption from sections 2(a)(32),
5(a)(1), and 22(d) of the Act and rule
22c–1 under the Act, and 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. The requested Order
would permit applicants to offer
ActiveShares ETFs. Because the relief
requested is the same as certain of the
relief granted by the Commission under
the Reference Order and because the
Initial Adviser has entered into a license
agreement with Precidian Investments
LLC, or an affiliate thereof, in order to
offer ActiveShares ETFs,3 the Order
would incorporate by reference the
terms and conditions of the same relief
of the Reference Order.
5. Applicants request that the Order
apply to the Initial Funds and to any
other existing or future registered openend management investment company
or series thereof that: (a) Is advised by
the Initial Adviser or any entity
controlling, controlled by, or under
common control with the Initial Adviser
(any such entity, along with the Initial
Adviser, included in the term
‘‘Adviser’’); (b) operates as an
ActiveShares ETF as described in the
Reference Order; and (c) complies with
the terms and conditions of the Order
and the terms and conditions of the
Reference Order that are incorporated
by reference into the Order (each such
company or series and each Initial
Fund, a ‘‘Fund’’).4
6. Section 6(c) of the Act provides that
the Commission may exempt any
person, security or transaction, or any
class of persons, securities or
transactions, from any provisions of the
Act, if and to the extent that 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 17(b)
of the Act authorizes the Commission to
exempt a proposed transaction from
section 17(a) of the Act if evidence
establishes that the terms of the
transaction, including the consideration
to be paid or received, are reasonable
and fair and do not involve
overreaching on the part of any person
concerned, and the transaction is
consistent with the policies of the
registered investment company and the
3 Aspects of the Funds are covered by intellectual
property rights, including but not limited to those
which are described in one or more patent
applications.
4 All entities that currently intend to rely on the
Order are named as applicants. Any other entity
that relies on the Order in the future will comply
with the terms and conditions of the Order and the
terms and conditions of the Reference Order that
are incorporated by reference into the Order.
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20429
general purposes of the Act. Applicants
submit that for the reasons stated in the
Reference Order the requested relief
meets the exemptive standards under
sections 6(c) and 17(b) of the Act.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–07952 Filed 4–16–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 86 FR 19063, April 12,
2021.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Thursday, April 15, 2021
at 2:00 p.m.
The Closed
Meeting scheduled for Thursday, April
15, 2021 at 2:00 p.m., has been
cancelled.
CHANGES IN THE MEETING:
CONTACT PERSON FOR MORE INFORMATION:
For further information; please contact
Vanessa A. Countryman from the Office
of the Secretary at (202) 551–5400.
Dated: April 15, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021–08121 Filed 4–15–21; 4:15 pm]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public
Comments
60-day notice and request for
comments.
ACTION:
The Small Business
Administration (SBA) intends to request
approval, from the Office of
Management and Budget (OMB) for the
collection of information described
below. The Paperwork Reduction Act
(PRA) requires federal agencies to
publish a notice in the Federal Register
concerning each proposed collection of
information before submission to OMB,
and to allow 60 days for public
comment in response to the notice. This
notice complies with that requirement.
DATES: Submit comments on or before
June 18, 2021.
ADDRESSES: Send all comments to Amy
Garcia, Veterans Business Analyst,
Office of Veterans, Small Business
Administration.
SUMMARY:
E:\FR\FM\19APN1.SGM
19APN1
]]>Agencies
[Federal Register Volume 86, Number 73 (Monday, April 19, 2021)]
[Notices]
[Page 20429]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08121]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: 86 FR 19063, April
12, 2021.
PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, April 15,
2021 at 2:00 p.m.
CHANGES IN THE MEETING: The Closed Meeting scheduled for Thursday,
April 15, 2021 at 2:00 p.m., has been cancelled.
CONTACT PERSON FOR MORE INFORMATION: For further information; please
contact Vanessa A. Countryman from the Office of the Secretary at (202)
551-5400.
Dated: April 15, 2021.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2021-08121 Filed 4-15-21; 4:15 pm]
BILLING CODE 8011-01-P
