International Product Change-Priority Mail Express International, Priority Mail International & First-Class Package International Service Agreement, 18404 [2022-06698]

Download as PDF 18404 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices POSTAL SERVICE International Product Change—Priority Mail Express International, Priority Mail International & First-Class Package International Service Agreement Postal ServiceTM. Notice. AGENCY: ACTION: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a Priority Mail Express International, Priority Mail International & First-Class Package International Service contract to the list of Negotiated Service Agreements in the Competitive Product List in the Mail Classification Schedule. DATES: Date of notice: March 30, 2022. FOR FURTHER INFORMATION CONTACT: Christopher C. Meyerson, (202) 268– 7820. SUMMARY: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on March 23, 2022, it filed with the Postal Regulatory Commission a USPS Request To Add Priority Mail Express International, Priority Mail International & First-Class Package International Service Contract 4 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2022–47 and CP2022–52. SUPPLEMENTARY INFORMATION: Joshua J. Hofer, Attorney, Ethics & Legal Compliance. [FR Doc. 2022–06698 Filed 3–29–22; 8:45 am] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–239, OMB Control No. 3235–0224] khammond on DSKJM1Z7X2PROD with NOTICES Submission for OMB Review; Comment Request; Extension: Rule 17j–1 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 350l–3520), the Securities and Exchange Commission (the ‘‘Commission’’) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. VerDate Sep<11>2014 17:14 Mar 29, 2022 Jkt 256001 Conflicts of interest between investment company personnel (such as portfolio managers) and their funds can arise when these persons buy and sell securities for their own accounts (‘‘personal investment activities’’). These conflicts arise because fund personnel have the opportunity to profit from information about fund transactions, often to the detriment of fund investors. Beginning in the early 1960s, Congress and the Securities and Exchange Commission (‘‘Commission’’) sought to devise a regulatory scheme to effectively address these potential conflicts. These efforts culminated in the addition of section 17(j) to the Investment Company Act of 1940 (the ‘‘Investment Company Act’’) (15 U.S.C. 80a–17(j)) in 1970 and the adoption by the Commission of rule 17j–1 (17 CFR 270.17j–1) in 1980.1 The Commission proposed amendments to rule 17j–1 in 1995 in response to recommendations made in the first detailed study of fund policies concerning personal investment activities by the Commission’s Division of Investment Management since rule 17j–1 was adopted. Amendments to rule 17j–1, which were adopted in 1999, enhanced fund oversight of personal investment activities and the board’s role in carrying out that oversight.2 Additional amendments to rule 17j–1 were made in 2004, conforming rule 17j–1 to rule 204A–1 under the Investment Advisers Act of 1940 (15 U.S.C. 80b), avoiding duplicative reporting, and modifying certain definitions and time restrictions.3 Section 17(j) makes it unlawful for persons affiliated with a registered investment company (‘‘fund’’) or with the fund’s investment adviser or principal underwriter (each a ‘‘17j–1 organization’’), in connection with the purchase or sale of securities held or to be acquired by the investment company, to engage in any fraudulent, deceptive, or manipulative act or practice in contravention of the Commission’s rules and regulations. Section 17(j) also authorizes the Commission to promulgate rules requiring 17j–1 organizations to adopt codes of ethics. In order to implement section 17(j), rule 17j–1 imposes certain requirements on 17j–1 organizations and ‘‘Access 1 Prevention of Certain Unlawful Activities with Respect to Registered Investment Companies, Investment Company Act Release No. 11421 (Oct. 31, 1980) (45 FR 73915 (Nov. 7, 1980)). 2 Personal Investment Activities of Investment Company Personnel, Investment Company Act Release No. 23958 (Aug. 20, 1999) (64 FR 46821 (Aug. 27, 1999)). 3 Investment Adviser Codes of Ethics, Investment Advisers Act Release No. 2256 (Jul. 2, 2004) (69 FR 41696 (Jul. 9, 2004)). PO 00000 Frm 00055 Fmt 4703 Sfmt 4703 Persons’’ 4 of those organizations. The rule prohibits fraudulent, deceptive or manipulative acts by persons affiliated with a 17j–1 organization in connection with their personal securities transactions in securities held or to be acquired by the fund. The rule requires each 17j–1 organization, unless it is a money market fund or a fund that does not invest in Covered Securities,5 to: (i) Adopt a written codes of ethics, (ii) submit the code and any material changes to the code, along with a certification that it has adopted procedures reasonably necessary to prevent Access Persons from violating the code of ethics, to the fund board for approval, (iii) use reasonable diligence and institute procedures reasonably necessary to prevent violations of the code, (iv) submit a written report to the fund describing any issues arising under the code and procedures and certifying that the 17j–1 entity has adopted procedures reasonably necessary to prevent Access Persons form violating the code, (v) identify Access Persons and notify them of their reporting obligations, and (vi) maintain and make available to the Commission for review certain records related to the code of ethics and transaction reporting by Access Persons. The rule requires each Access Person of a fund (other than a money market fund or a fund that does not invest in Covered Securities) and of an investment adviser or principal underwriter of the fund, who is not subject to an exception,6 to file: (i) 4 Rule 17j–1(a)(1) defines an ‘‘access person’’ as ‘‘Any Advisory Person of a Fund or of a Fund’s investment adviser. If an investment adviser’s primary business is advising Funds or other advisory clients, all of the investment adviser’s directors, officers, and general partners are presumed to be Access Persons of any Fund advised by the investment adviser. All of a Fund’s directors, officers, and general partners are presumed to be Access Persons of the Fund.’’ The definition of Access Person also includes ‘‘Any director, officer or general partner of a principal underwriter who, in the ordinary course of business, makes, participates in or obtains information regarding, the purchase or sale of Covered Securities by the Fund for which the principal underwriter acts, or whose functions or duties in the ordinary course of business relate to the making of any recommendation to the Fund regarding the purchase or sale of Covered Securities.’’ Rule 17j– 1(a)(1). 5 A ‘‘Covered Security’’ is any security that falls within the definition in section 2(a)(36) of the Act, except for direct obligations of the U.S. Government, bankers’ acceptances, bank certificates of deposit, commercial paper and high quality short-term debt instruments, including repurchase agreements, and shares issued by open-end funds. Rule 17j–1(a)(4). 6 Rule 17j–1(d)(2) contains the following exceptions: (i) An Access Person need not file a report for transactions effected for, and securities held in, any account over which the Access Person does not have control; (ii) an independent director E:\FR\FM\30MRN1.SGM 30MRN1

Agencies

[Federal Register Volume 87, Number 61 (Wednesday, March 30, 2022)]
[Notices]
[Page 18404]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06698]



[[Page 18404]]

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POSTAL SERVICE


International Product Change--Priority Mail Express 
International, Priority Mail International & First-Class Package 
International Service Agreement

AGENCY: Postal ServiceTM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of filing a request with the 
Postal Regulatory Commission to add a Priority Mail Express 
International, Priority Mail International & First-Class Package 
International Service contract to the list of Negotiated Service 
Agreements in the Competitive Product List in the Mail Classification 
Schedule.

DATES: Date of notice: March 30, 2022.

FOR FURTHER INFORMATION CONTACT: Christopher C. Meyerson, (202) 268-
7820.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
March 23, 2022, it filed with the Postal Regulatory Commission a USPS 
Request To Add Priority Mail Express International, Priority Mail 
International & First-Class Package International Service Contract 4 to 
Competitive Product List. Documents are available at www.prc.gov, 
Docket Nos. MC2022-47 and CP2022-52.

Joshua J. Hofer,
Attorney, Ethics & Legal Compliance.
[FR Doc. 2022-06698 Filed 3-29-22; 8:45 am]
BILLING CODE 7710-12-P