Hartford Schroders Private Opportunities Fund, et al., 31532-31533 [2023-10464]
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Federal Register / Vol. 88, No. 95 / Wednesday, May 17, 2023 / Notices
Members. As a result, the Exchange
believes that the proposed change
furthers the Commission’s goal in
adopting Regulation NMS of fostering
competition among orders, which
promotes ‘‘more efficient pricing of
individual stocks for all types of orders,
large and small.’’
The Exchange also believes the
proposed rule change does not impose
any burden on intermarket competition
that is not necessary or appropriate in
furtherance of the purposes of the Act.
As previously discussed, the Exchange
operates in a highly competitive market.
Members have numerous alternative
venues they may participate on and
direct their order flow, including 15
other options exchanges. Additionally,
the Exchange represents a small
percentage of the overall market. Based
on publicly available information, no
single options exchange has more than
17% of the market share. Therefore, no
exchange possesses significant pricing
power in the execution of order flow.
Indeed, participants can readily choose
to send their orders to other exchanges
if they deem fee levels at those other
venues to be more favorable. Moreover,
the Commission has repeatedly
expressed its preference for competition
over regulatory intervention in
determining prices, products, and
services in the securities markets.
Specifically, in Regulation NMS, the
Commission highlighted the importance
of market forces in determining prices
and SRO revenues and, also, recognized
that current regulation of the market
system ‘‘has been remarkably successful
in promoting market competition in its
broader forms that are most important to
investors and listed companies.’’ The
fact that this market is competitive has
also long been recognized by the courts.
In NetCoalition v. Securities and
Exchange Commission, the D.C. Circuit
stated as follows: ‘‘[n]o one disputes
that competition for order flow is
‘fierce.’. . . As the SEC explained, ‘[i]n
the U.S. national market system, buyers
and sellers of securities, and the brokerdealers that act as their order-routing
agents, have a wide range of choices of
where to route orders for execution’;
[and] ‘no exchange can afford to take its
market share percentages for granted’
because ‘no exchange possesses a
monopoly, regulatory or otherwise, in
the execution of order flow from broker
dealers’. . . .’’. Accordingly, the
Exchange does not believe its proposed
fee change imposes any burden on
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act.
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18:34 May 16, 2023
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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to section 19(b)(3)(A)
of the Act 16 and paragraph (f) of Rule
19b–4 17 thereunder. At any time within
60 days of the filing of the proposed rule
change, the Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CboeBZX–2023–031 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CboeBZX–2023–031. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
16 15
17 17
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
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communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. Do not include
personal identifiable information in
submissions; you should submit only
information that you wish to make
available publicly. We may redact in
part or withhold entirely from
publication submitted material that is
obscene or subject to copyright
protection. All submissions should refer
to File Number SR–CboeBZX–2023–031
and should be submitted on or before
June 7, 2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–10473 Filed 5–16–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
34915; File No. 812–15304]
Hartford Schroders Private
Opportunities Fund, et al.
May 11, 2023
Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:
Notice of application for an order
(‘‘Order’’) under section 17(d) of the
Investment Company Act of 1940 (the
‘‘Act’’) and rule 17d–1 under the Act to
permit certain joint transactions
otherwise prohibited by section 17(d) of
the Act and rule 17d–1 under the Act.
SUMMARY OF APPLICATION: Applicants
request an order to permit certain
closed-end management investment
companies to co-invest in portfolio
companies with each other and with
certain affiliated investment entities.
APPLICANTS: Hartford Schroders Private
Opportunities Fund, Hartford Funds
Management Company, LLC, Schroder
Investment Management North America
Inc., Schroders Capital Management
18 17
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CFR 200.30–3(a)(12).
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ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 95 / Wednesday, May 17, 2023 / Notices
(US) Inc., Cresta III S.C.S., GPEP V
S.C.S., IST3 Manesse PE3 Impact S.C.S.,
KVT PE S.C.S., Malatrex S.C.S.,
Marmolata PE Impact S.C.S., Marmolata
S.C.S., PSY Private Equity S.C.S., SA–
EL II S.C.S., SA–EL Opportunity S.C.S.,
Sale`ve 2022 S.C.S., SC Global
Opportunities S.L.P., Schroder British
Opportunities Trust PLC, Schroder UK
Public Private Trust PLC, Schroders
Capital cPl Global 2023–2025 S.C.S.,
Schroders Capital Private Equity Asia VI
S.C.S., Schroders Capital Private Equity
Europe Direct III S.C.S., Schroders
Capital Private Equity Europe VIII
S.C.S., Schroders Capital Private Equity
Global Direct III S.C.S., Schroders
Capital Private Equity Global III S.C.S.,
Schroders Capital Private Equity Global
Innovation X S.C.S., Schroders Capital
Private Equity Global Innovation XI
S.C.S., Schroders Capital Private Equity
Healthcare S.C.S., Schroders Capital
Private Equity Secondaries IV S.C.S.,
Schroders Capital Private Equity US V
S.C.S., Schroders Capital Private Equity
US VI S.C.S., Schroders Capital SemiLiquid—Circular Economy Private Plus,
Schroders Capital Semi-Liquid—Global
Innovation Private Plus, Schroders
Capital Semi-Liquid Global Private
Equity Holding S.C.S., Schroders
Capital Taft-Hartley Ventures S.C.S. and
Wollstonecraft L.P.
FILING DATES: The application was filed
on January 27, 2022 and amended on
August 19, 2022, December 16, 2022
and April 11, 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 June 5, 2023, and
should be accompanied by proof of
service on 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 at
Secretarys-Office@sec.gov.
ADDRESSES: The Commission:
Secretarys-Office@sec.gov. Applicants:
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18:34 May 16, 2023
Jkt 259001
John V. O’Hanlon, Esquire, Dechert LLP,
One International Place, 40th Floor, 100
Oliver Street, Boston, Massachusetts
02110–2605, and Thomas R. Phillips,
Hartford Funds Management Company,
LLC, 690 Lee Road, Wayne,
Pennsylvania 19087.
FOR FURTHER INFORMATION CONTACT:
Christopher D. Carlson, Senior Counsel,
or Daniele Marchesani, Assistant Chief
Counsel, at (202) 551–6825 (Division of
Investment Management, Chief
Counsel’s Office).
For
Applicants’ representations, legal
analysis, and conditions, please refer to
Applicants’ third amended and restated
application, dated April 11, 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. 2023–10464 Filed 5–16–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–97494; File No. SR–LTSE–
2023–03]
Self-Regulatory Organizations; LongTerm Stock Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Amend
Rule 2.250 To Remove Obsolete Text
May 11, 2023.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 2,
2023, Long-Term Stock Exchange, Inc.
(‘‘LTSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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31533
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
LTSE Rule 2.250 (Mandatory
Participation in Testing of Backup
Systems) to remove obsolete rule text
regarding the process it employed to
designate certain Members 3 previously
subject to the rule to participate in
mandatory disaster recovery testing
pursuant to Regulation SCI and Rule
2.250 for calendar year 2020.
The text of the proposed rule change
is available at the Exchange’s website at
https://longtermstockexchange.com/, at
the principal office of the Exchange, and
at the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement on the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange 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
self-regulatory organization 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
The Exchange proposes to amend
LTSE Rule 2.250 (Mandatory
Participation in Testing of Backup
Systems) to remove obsolete rule text
regarding the process it employed to
designate certain Members previously
subject to the rule to participate in
mandatory disaster recovery testing
pursuant to Regulation SCI and Rule
2.250 for calendar year 2020.
Regulation SCI requires LTSE, as an
SCI entity, to maintain business
continuity and disaster recovery plans
that provide for resilient and
3 The term ‘‘Member’’ refers to any registered
broker or dealer that has been admitted to
membership in the Exchange. A Member will have
the status of a Member of the Exchange as that term
is defined in section 3(a)(3) of the Act. Membership
may be granted to a sole proprietor, partnership,
corporation, limited liability company, or other
organization that is a registered broker or dealer
pursuant to section 15 of the Act, and which has
been approved by the Exchange. See, LTSE Rule
1.160(w).
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]]>Agencies
[Federal Register Volume 88, Number 95 (Wednesday, May 17, 2023)]
[Notices]
[Pages 31532-31533]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-10464]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 34915; File No. 812-15304]
Hartford Schroders Private Opportunities Fund, et al.
May 11, 2023
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of application for an order (``Order'') under section 17(d)
of the Investment Company Act of 1940 (the ``Act'') and rule 17d-1
under the Act to permit certain joint transactions otherwise prohibited
by section 17(d) of the Act and rule 17d-1 under the Act.
Summary of Application: Applicants request an order to permit certain
closed-end management investment companies to co-invest in portfolio
companies with each other and with certain affiliated investment
entities.
Applicants: Hartford Schroders Private Opportunities Fund, Hartford
Funds Management Company, LLC, Schroder Investment Management North
America Inc., Schroders Capital Management
[[Page 31533]]
(US) Inc., Cresta III S.C.S., GPEP V S.C.S., IST3 Manesse PE3 Impact
S.C.S., KVT PE S.C.S., Malatrex S.C.S., Marmolata PE Impact S.C.S.,
Marmolata S.C.S., PSY Private Equity S.C.S., SA-EL II S.C.S., SA-EL
Opportunity S.C.S., Sal[egrave]ve 2022 S.C.S., SC Global Opportunities
S.L.P., Schroder British Opportunities Trust PLC, Schroder UK Public
Private Trust PLC, Schroders Capital cPl Global 2023-2025 S.C.S.,
Schroders Capital Private Equity Asia VI S.C.S., Schroders Capital
Private Equity Europe Direct III S.C.S., Schroders Capital Private
Equity Europe VIII S.C.S., Schroders Capital Private Equity Global
Direct III S.C.S., Schroders Capital Private Equity Global III S.C.S.,
Schroders Capital Private Equity Global Innovation X S.C.S., Schroders
Capital Private Equity Global Innovation XI S.C.S., Schroders Capital
Private Equity Healthcare S.C.S., Schroders Capital Private Equity
Secondaries IV S.C.S., Schroders Capital Private Equity US V S.C.S.,
Schroders Capital Private Equity US VI S.C.S., Schroders Capital Semi-
Liquid--Circular Economy Private Plus, Schroders Capital Semi-Liquid--
Global Innovation Private Plus, Schroders Capital Semi-Liquid Global
Private Equity Holding S.C.S., Schroders Capital Taft-Hartley Ventures
S.C.S. and Wollstonecraft L.P.
Filing Dates: The application was filed on January 27, 2022 and
amended on August 19, 2022, December 16, 2022 and April 11, 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 June 5,
2023, and should be accompanied by proof of service on 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 at
[email protected].
ADDRESSES: The Commission: [email protected]. Applicants: John
V. O'Hanlon, Esquire, Dechert LLP, One International Place, 40th Floor,
100 Oliver Street, Boston, Massachusetts 02110-2605, and Thomas R.
Phillips, Hartford Funds Management Company, LLC, 690 Lee Road, Wayne,
Pennsylvania 19087.
FOR FURTHER INFORMATION CONTACT: Christopher D. Carlson, Senior
Counsel, or Daniele Marchesani, Assistant Chief 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' third amended and
restated application, dated April 11, 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. 2023-10464 Filed 5-16-23; 8:45 am]
BILLING CODE 8011-01-P
