MBC Total Private Markets Access Fund and Seneca Management, LLC, 22074-22075 [2023-07626]

Download as PDF 22074 Federal Register / Vol. 88, No. 70 / Wednesday, April 12, 2023 / Notices Title: American Latino Museum Internship and Fellowship Initiative Notice of Funding Opportunity. OMB Control Number: 3137–NEW. Agency Number: 3137. Affected Public: American Latino museums; Institutions of Higher Education. Total Number of Respondents: 30. Frequency of Response: Once per request. Average Hours per Response: 35 hours. Total Burden Hours: 1,050 hours. Total Annualized Capital/Startup Costs: n/a. Total Annual Cost Burden: $46,284. Total Annual Federal Costs: $1,308. Dated: April 06, 2023. Suzanne Mbollo, Grants Management Specialist, Institute of Museum and Library Services. [FR Doc. 2023–07631 Filed 4–11–23; 8:45 am] BILLING CODE 7036–01–P POSTAL REGULATORY COMMISSION [Docket No. CP2021–54] New Postal Products Postal Regulatory Commission. Notice. AGENCY: ACTION: The Commission is noticing a recent Postal Service filing for the Commission’s consideration concerning a negotiated service agreement. This notice informs the public of the filing, invites public comment, and takes other administrative steps. DATES: Comments are due: April 14, 2023. SUMMARY: Submit comments electronically via the Commission’s Filing Online system at https:// www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. ADDRESSES: II. Docketed Proceeding(s) Table of Contents 1. Docket No(s).: CP2021–54; Filing Title: USPS Notice of Amendment to Priority Mail & First-Class Package Service Contract 184, Filed Under Seal; Filing Acceptance Date: April 6, 2023; Filing Authority: 39 CFR 3035.105; Public Representative: Kenneth R. Moeller; Comments Due: April 14, 2023. This Notice will be published in the Federal Register. I. Introduction II. Docketed Proceeding(s) Mallory Richards, Attorney-Advisor. I. Introduction [FR Doc. 2023–07659 Filed 4–11–23; 8:45 am] The Commission gives notice that the Postal Service filed request(s) for the Commission to consider matters related to negotiated service agreement(s). The request(s) may propose the addition or BILLING CODE 7710–FW–P FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: ddrumheller on DSK120RN23PROD with NOTICES1 removal of a negotiated service agreement from the Market Dominant or the Competitive product list, or the modification of an existing product currently appearing on the Market Dominant or the Competitive product list. Section II identifies the docket number(s) associated with each Postal Service request, the title of each Postal Service request, the request’s acceptance date, and the authority cited by the Postal Service for each request. For each request, the Commission appoints an officer of the Commission to represent the interests of the general public in the proceeding, pursuant to 39 U.S.C. 505 (Public Representative). Section II also establishes comment deadline(s) pertaining to each request. The public portions of the Postal Service’s request(s) can be accessed via the Commission’s website (https:// www.prc.gov). Non-public portions of the Postal Service’s request(s), if any, can be accessed through compliance with the requirements of 39 CFR 3011.301.1 The Commission invites comments on whether the Postal Service’s request(s) in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern Market Dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3030, and 39 CFR part 3040, subpart B. For request(s) that the Postal Service states concern Competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3035, and 39 CFR part 3040, subpart B. Comment deadline(s) for each request appear in section II. VerDate Sep<11>2014 19:25 Apr 11, 2023 Jkt 259001 1 See Docket No. RM2018–3, Order Adopting Final Rules Relating to Non-Public Information, June 27, 2018, Attachment A at 19–22 (Order No. 4679). PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 34879; 812–15421] MBC Total Private Markets Access Fund and Seneca Management, LLC April 6, 2023. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. AGENCY: Notice of an application under section 6(c) of the Investment Company Act of 1940 (the ‘‘Act’’) for an exemption from sections 18(a)(2), 18(c) and 18(i) of the Act and for an order pursuant to section 17(d) of the Act and rule 17d–1 under the Act. Summary of Application: Applicants request an order to permit certain registered closed-end investment companies to issue multiple classes of shares of beneficial interest with varying sales loads and to impose asset-based distribution and/or service fees. Applicants: MBC Total Private Markets Access Fund and Seneca Management, LLC. Filing Dates: The application was filed on January 6, 2023, and amended on February 27, 2023 and March 23, 2023. Hearing or Notification of Hearing: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing on any application by emailing the SEC’s Secretary at Secretarys-Office@sec.gov and serving the Applicants with a copy of the request by email, if an email address is listed for the relevant Applicant below, or personally or by mail, if a physical address is listed for the relevant Applicant below. Hearing requests should be received by the Commission by 5:30 p.m. on May 1, 2023, and should be accompanied by proof of service on the Applicants, in the form of an affidavit, or, for lawyers, a certificate of service. Pursuant to rule 0– 5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission’s Secretary. ADDRESSES: The Commission: Secretarys-Office@sec.gov. Applicants: Garrett Fitzgerald, Seneca Management, LLC, gfitzgerald@mbclp.com; Brian Knitt, MBC Total Private Markets Access Fund, bknitt@mbclp.com; Jeremy I. Senderowicz, Vedder Price P.C., jsenderowicz@vedderprice.com. E:\FR\FM\12APN1.SGM 12APN1 Federal Register / Vol. 88, No. 70 / Wednesday, April 12, 2023 / Notices FOR FURTHER INFORMATION CONTACT: Trace W. Rakestraw, Senior Special Counsel, at (202) 551–6825 (Division of Investment Management, Chief Counsel’s Office). For Applicants’ representations, legal analysis, and conditions, please refer to Applicants’ second amended and restated application, dated March 23, 2023, which may be obtained via the Commission’s website by searching for the file number at the top of this document, or for an Applicant using the Company name search field on the SEC’s EDGAR system. The SEC’s EDGAR system may be searched at https://www.sec.gov/edgar/searchedgar/ legacy/companysearch.html. You may also call the SEC’s Public Reference Room at (202) 551–8090. SUPPLEMENTARY INFORMATION: For the Commission, by the Division of Investment Management, under delegated authority. Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–07626 Filed 4–11–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–97257; File No. SR–MSRB– 2023–03] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing of a Proposed Rule Change To Amend MSRB Rules G–12 and G–15 To Define Regular-Way Settlement for Municipal Securities Transactions as Occurring One Business Day After the Trade Date and To Amend Rule G–12 To Update an Outdated Cross Reference ddrumheller on DSK120RN23PROD with NOTICES1 April 6, 2023. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’ or ‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on March 28, 2023 the Municipal Securities Rulemaking Board (‘‘MSRB’’ or ‘‘Board’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the MSRB. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Sep<11>2014 19:25 Apr 11, 2023 Jkt 259001 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The MSRB filed with the Commission a proposed rule change to amend MSRB Rules G–12, on uniform practice, and G–15, on confirmation, clearance, settlement and other uniform practice requirements with respect to transactions with customers, to define regular-way settlement for municipal securities transactions as occurring one business day after the trade date and a proposed amendment to Rule G–12 to update an outdated cross reference (the ‘‘proposed rule change’’). The MSRB requests that the proposed rule change be approved with an implementation date of May 28, 2024, to align with the implementation date for Exchange Act Rule 15c6–1, as amended.3 The text of the proposed rule change is available on the MSRB’s website at https://msrb.org/2023-SEC-Filings, at the MSRB’s principal office, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the MSRB included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The MSRB has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Consistent with the MSRB’s strategic goal to modernize the MSRB Rule Book, the proposed rule change would amend MSRB Rule G–12(b)(ii)(B)–(D) and MSRB Rule G–15(b)(ii)(B)–(C) to define regular-way settlement for municipal securities transactions as occurring on one business day after the trade date (‘‘T+1’’). This proposed rule change would align with regular-way settlement on T+1 for equities and corporate bonds under Exchange Act Rule 15c6–1, as 3 See Exchange Act Release No. 96930 (Feb. 15, 2023), 88 FR 13872 at 13916 (Mar. 6, 2023) (File No. S7–050–22) (‘‘SEC’s T+1 Adopting Release’’). If the Commission’s compliance date were to change, the MSRB would issue a regulatory notice to modify the compliance date to remain aligned with the Commission’s compliance date. PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 22075 amended.4 Although Exchange Act Rule 15c6–1, as amended 5 does not apply to municipal securities transactions, the MSRB believes that the regular-way settlement cycle for municipal securities transactions in the secondary market should be consistent with that for equity and corporate bond transactions. Therefore, to facilitate a T+1 standard settlement cycle, the MSRB is proposing to amend MSRB Rule G–12(b)(ii)(B)–(D) and Rule G–15(b)(ii)(B)–(C) to define regular-way settlement as occurring on the first business day following the trade date rather than on the second business day following the trade date. Background The SEC initially adopted Exchange Act Rule 15c6–1 6 in 1993 to shorten the settlement cycle of most equity and corporate bond transactions from the industry standard of within five business days (‘‘T+5’’) to requiring settlement within three business days (‘‘T+3’’).7 The T+3 settlement cycle remained in effect until 2017 when the SEC amended Exchange Act Rule 15c6– 1 8 to require the settlement of most equity and corporate bond transactions within two business days (‘‘T+2’’).9 On February 15, 2023, the SEC adopted amendments to Exchange Act Rule 15c6–1 (‘‘Amended SEC Rule 15c6– 1’’) 10 to further shorten the settlement process, requiring the settlement of most equity and corporate bond transactions on T+1. Amended SEC Rule 15c6–1(a) 11 prohibits a broker-dealer from effecting or entering into a contract for the purchase or sale of a security (other than an exempted security,12 a government security, a municipal security, commercial paper, bankers’ acceptances, or commercial bills) that provide for payment of funds and delivery of securities later than T+1, unless the parties expressly agree to a different settlement date at the time of the transaction.13 The recent 4 17 CFR 240.15c6–1. 5 Id. 6 Id. 7 Exchange Act Release No. 33023 (Oct. 6, 1993), 58 FR 52891 (Oct. 13, 1993). In adopting Rule 15c6– 1, the Commission set a compliance date of June 1, 1995, 58 FR at 52891 (Oct. 13, 1993). 8 17 CFR 240.15c6–1. 9 Exchange Act Release No. 80295 (Mar. 22, 2017), 82 FR 15564 (Mar. 29, 2017). 10 17 CFR 240.15c6–1. 11 17 CFR 240.15c6–1(a). 12 15 U.S.C. 78c(a)(12), (amended Apr. 5, 2012). 13 Subsection (c) of Rule15c6–1, 17 CFR 240.15c6–1(c), was also amended to prohibit a broker-dealer from effecting or entering into a contract for firm commitment offerings of securities (other than exempt securities) priced after 4:30 p.m. Eastern Time that provide for payment of funds and E:\FR\FM\12APN1.SGM Continued 12APN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 70 (Wednesday, April 12, 2023)]
[Notices]
[Pages 22074-22075]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-07626]


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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 34879; 812-15421]


MBC Total Private Markets Access Fund and Seneca Management, LLC

April 6, 2023.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').

ACTION: Notice.

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    Notice of an application under section 6(c) of the Investment 
Company Act of 1940 (the ``Act'') for an exemption from sections 
18(a)(2), 18(c) and 18(i) of the Act and for an order pursuant to 
section 17(d) of the Act and rule 17d-1 under the Act.
    Summary of Application: Applicants request an order to permit 
certain registered closed-end investment companies to issue multiple 
classes of shares of beneficial interest with varying sales loads and 
to impose asset-based distribution and/or service fees.
    Applicants: MBC Total Private Markets Access Fund and Seneca 
Management, LLC.
    Filing Dates: The application was filed on January 6, 2023, and 
amended on February 27, 2023 and March 23, 2023.
    Hearing or Notification of Hearing: An order granting the requested 
relief will be issued unless the Commission orders a hearing. 
Interested persons may request a hearing on any application by emailing 
the SEC's Secretary at [email protected] and serving the 
Applicants with a copy of the request by email, if an email address is 
listed for the relevant Applicant below, or personally or by mail, if a 
physical address is listed for the relevant Applicant below. Hearing 
requests should be received by the Commission by 5:30 p.m. on May 1, 
2023, and should be accompanied by proof of service on the Applicants, 
in the form of an affidavit, or, for lawyers, a certificate of service. 
Pursuant to rule 0-5 under the Act, hearing requests should state the 
nature of the writer's interest, any facts bearing upon the 
desirability of a hearing on the matter, the reason for the request, 
and the issues contested. Persons who wish to be notified of a hearing 
may request notification by emailing the Commission's Secretary.

ADDRESSES: The Commission: [email protected]. Applicants: 
Garrett Fitzgerald, Seneca Management, LLC, [email protected]; 
Brian Knitt, MBC Total Private Markets Access Fund, [email protected]; 
Jeremy I. Senderowicz, Vedder Price P.C., [email protected].

[[Page 22075]]


FOR FURTHER INFORMATION CONTACT: Trace W. Rakestraw, Senior Special 
Counsel, at (202) 551-6825 (Division of Investment Management, Chief 
Counsel's Office).

SUPPLEMENTARY INFORMATION: For Applicants' representations, legal 
analysis, and conditions, please refer to Applicants' second amended 
and restated application, dated March 23, 2023, which may be obtained 
via the Commission's website by searching for the file number at the 
top of this document, or for an Applicant using the Company name search 
field on the SEC's EDGAR system. The SEC's EDGAR system may be searched 
at https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You 
may also call the SEC's Public Reference Room at (202) 551-8090.

    For the Commission, by the Division of Investment Management, 
under delegated authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-07626 Filed 4-11-23; 8:45 am]
BILLING CODE 8011-01-P

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