Securities and Exchange Commission January 11, 2013 – Federal Register Recent Federal Regulation Documents

Summary of Application: Applicants request an order that would permit (a) Certain open-end management investment companies or series thereof to issue shares (``Shares'') redeemable in large aggregations only (``Creation Units''); (b) secondary market transactions in Shares to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; (d) certain affiliated persons of the series to deposit securities into, and receive securities from, the series 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 series to acquire Shares; and (f) certain series to perform creations and redemptions of Shares in-kind in a master-feeder structure. Applicants: Fidelity Commonwealth Trust (the ``Trust''), Fidelity Management & Research Company (the ``Adviser''), and Fidelity Distributors Corporation (the ``Distributor'').