[Federal Register: March 18, 2009 (Volume 74, Number 51)]
[Notices]
[Page 11617-11619]
[DOCID:fr18mr09-90]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. IC-28647; 812-13641]

Automated Trading Desk Specialists, LLC, et al.; Notice of
Application and Temporary Order

March 12, 2009.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Temporary order and notice of application for a permanent order
under section 9(c) of the Investment Company Act of 1940 (``Act'').

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Summary of Application: Applicants have received a temporary order
exempting them from section 9(a) of the Act, with respect to an
injunction entered against Automated Trading Desk Specialists, LLC
(``ATDS'') on March 11, 2009 by the United States District Court for
the Southern District of New York (the ``Injunction''), until the
Commission takes final action on an application for a permanent order.
Applicants also have applied for a permanent order.

Applicants: ATDS, Citigroup Global Markets Inc. (``CGMI''), CEFOF GP I
Corp. (``CEFOF''), CELFOF GP Corp. (``CELFOF''), Citibank, N.A.
(``Citibank''), Citigroup Alternative Investments LLC (``Citigroup
Alternative''), Citigroup Investment Advisory Services Inc.
(``Citigroup Advisory''), Citigroup Capital Partners I GP I Corp.
(``CCP I'') and Citigroup Capital Partners I GP II Corp. (``CCP II,''
and along with CGMI, CEFOF, CELFOF, Citibank, Citigroup Alternative,
Citigroup Advisory and CCP I, the

``Fund Servicing Applicants,'' together with ATDS, the
``Applicants'').\1\
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    \1\ Applicants request that any relief granted pursuant to the
application also apply to any other company of which ATDS is or
hereafter may become an affiliated person within the meaning of
section 2(a)(3) of the Act (together with the Applicants, the
``Covered Persons'').

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Filing Date: The application was filed on March 12, 2009.

Hearing or Notification of Hearing: An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving Applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on April 6, 2009, and should be accompanied by proof of service on
Applicants, in the form of an affidavit, or for lawyers, a certificate
of service. Hearing requests should state the nature of the writer's
interest, the reason for the request, and the issues contested. Persons
who wish to be notified of a hearing may request notification by
writing to the Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street, NE., Washington, DC 20549-1090. Applicants: ATDS, 401 S.
LaSalle Street, Chicago, IL 60605; CGMI and Citigroup Advisory, 787
Seventh Avenue, New York, NY 10019; CEFOF, CELFOF, CCP I and CCP II,
388 Greenwich Street, New York, NY 10013; Citibank, 399 Park Avenue,
New York, NY 10043; and Citigroup Alternative, 731 Lexington Avenue,
28th Floor, New York, NY 10022.

FOR FURTHER INFORMATION CONTACT: Jaea F. Hahn, Senior Counsel, at (202)
551-6870, or Julia Kim Gilmer, Branch Chief, at<PHONE_NUMBER>,
(Division of Investment Management, Office of Investment Company
Regulation).

SUPPLEMENTARY INFORMATION: The following is a temporary order and a
summary of the application. The complete application may be obtained
for a fee at the Commission's Public Reference Room, 100 F Street, NE.,
Washington DC 20549-1520 (tel.<PHONE_NUMBER>).

Applicants' Representations

    1. Each of the Applicants is an indirect wholly-owned subsidiary of
Citigroup Inc. (``Citigroup''), a financial holding company whose
businesses provide a broad range of financial services to consumer and
corporate customers. ATDS is a broker-dealer that was registered with
the Commission under the Securities Exchange Act of 1934 (``Exchange
Act'').\2\ Citigroup acquired the parent company of ATDS, ATD Holdings,
Inc., in 2007. ATDS has never served or acted an investment adviser or
depositor to registered investment companies (``Funds''), including
unit investment trusts (``UITs'') and face amount certificate
companies, or as principal underwriter to Funds, nor does ATDS have any
present intention of doing so in the future. ATDS currently has no
operations.
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    \2\ ATDS deregistered with the Commission as a broker-dealer on
July 16, 2004.
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    2. CGMI is registered as a broker-dealer under the Exchange Act and
serves as principal underwriter for one or more registered investment
companies and as the depositor of certain unit investment trusts
(``UITs,'' together with all other registered investment companies,
``Funds''). Citigroup Alternative and Citigroup Advisory are registered
as investment advisers under the Investment Advisers Act of 1940 and
serve as investment advisers for one or more Funds. CEFOF, CELOF,
Citibank, and CCP I and CCP II (``ESC Advisers'') serve as investment
advisers to certain employees' securities companies within the meaning
of section 2(a)(13) of the Act, which provide investment opportunities
for certain eligible employees, officers, directors and persons on
retainer of Citigroup and its affiliates (``ESCs'' and included in the
term ``Funds'').\3\
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    \3\ Greenwich Street Employees Fund, LP, et al., Investment
Company Act Release Nos. 25324 (Dec. 21, 2001) (notice) and 25367
(Jan. 16, 2002) (order).
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    3. On March 11, 2009, the United States District Court for the
Southern District of New York entered a final judgment, which included
the Injunction, against ATDS (``Judgment'') in a matter brought by the
Commission.\4\ The Commission alleged in the complaint (``Complaint'')
that ATDS violated certain rules of the Chicago Stock Exchange by
engaging in improper trades for its own proprietary accounts by trading
ahead of, instead of matching customer orders, interpositioning and
trading ahead of unexecuted open or cancelled orders. The Complaint
also alleged that ATDS violated section 17(a) of the Exchange Act and
rule 17a-3 by failing to make or keep a current blotter containing an
itemized daily record of all purchases and sales of securities effected
by ATDS for its proprietary accounts. Without admitting or denying the
allegations in the Complaint, except as to jurisdiction, ATDS consented
to the entry of the Judgment that included, among other things, the
entry of the Injunction.
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    \4\ Securities and Exchange Commission v. Automated Trading Desk
Specialists, LLC., Final Consent Judgment as to Automated Trading
Desk Specialists LLC., 1:09cv1977 (LTS) (S.D.N.Y., Mar. 11, 2009).
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Applicants' Legal Analysis

    1. Section 9(a)(2) of the Act, in relevant part, prohibits a person
who has been enjoined from engaging in or continuing any conduct or
practice in connection with the purchase or sale of a security or in
connection with activities as a broker or dealer, from acting, among
other things, as an investment adviser or depositor of any registered
investment company or a principal underwriter for any registered open-
end investment company, registered UIT or registered face-amount
certificate company. Section 9(a)(3) of the Act makes the prohibition
in section 9(a)(2) applicable to a company, any affiliated person of
which has been disqualified under the provisions of section 9(a)(2).
Section 2(a)(3) of the Act defines ``affiliated person'' to include,
among others, any person directly or indirectly controlling, controlled
by, or under common control with, the other person. Applicants state
that ATDS is an affiliated person of each of the Fund Servicing
Applicants within the meaning of section 2(a)(3) of the Act. Applicants
state that the entry of the Injunction results in Applicants being
subject to the disqualification provisions of section 9(a) of the Act.
    2. Section 9(c) of the Act provides that the Commission shall grant
an application for exemption from the disqualification provisions of
section 9(a) of the Act if it is established that these provisions, as
applied to Applicants, are unduly or disproportionately severe or that
the Applicants' conduct has been such as not to make it against the
public interest or the protection of investors to grant the exemption.
Applicants have filed an application pursuant to section 9(c) seeking a
temporary and permanent order exempting them and Covered Persons from
the disqualification provisions of section 9(a) of the Act.
    3. Applicants believe they meet the standard for exemption
specified in section 9(c). Applicants state that the prohibitions of
section 9(a) as applied to the Fund Servicing Applicants would be
unduly and disproportionately severe and that the conduct of Applicants
has been such as not to make it against the public interest or the
protection of investors to grant the exemption from section 9(a).
    4. Applicants state that the alleged conduct giving rise to the
Injunction did not involve any of the Applicants acting in the capacity
of investment adviser,

subadviser or depositor to a Fund, or principal underwriter for any
open-end Fund or UIT and that the conduct occurred prior to Citigroup's
acquisition of the parent company of ATDS when the Fund Servicing
Applicants were not affiliated persons of ATDS. Applicants also state
that none of the current or former directors, officers, or employees of
the Fund Servicing Applicants had any involvement in the conduct
alleged in the Complaint. Applicants further state that the personnel
at ATDS who allegedly participated in the conduct giving rise to the
Injunction have had no and will not have any future involvement in
providing advisory, subadvisory or depository services to Funds, or
principal underwriting services to open-end Funds or UITs and are no
longer employed by ATDS.
    5. Applicants state that the inability of the Fund Servicing
Applicants to continue to serve as investment adviser, depositor or
principal underwriter to the Funds would result in potentially severe
financial hardships for the Funds and their shareholders. Applicants
have distributed, or will distribute as soon as reasonably practical,
written materials, including an offer to meet in person to discuss the
materials, to the board of directors of each Fund, including the
directors who are not ``interested persons,'' as defined in section
2(a)(19) of the Act, of such Fund, and their independent legal counsel
as defined in rule 0-1(a)(6) under the Act, if any, regarding the
Judgment, any impact on the Funds, and the application. Applicants
state they will provide the Funds with all information concerning the
Judgment and the application that is necessary for the Funds to fulfill
their disclosure and other obligations under the Federal securities
laws.
    6. Applicants also state that, if the Fund Servicing Applicants
were barred from serving as investment adviser, depositor or principal
underwriter to the Funds, the effect on their businesses and employees
would be severe. Applicants state that the Fund Servicing Applicants
have committed substantial resources to establish an expertise in
providing services covered by section 9(a) of the Act to Funds.
Applicants further state that prohibiting the Fund Servicing Applicants
from providing advisory and distribution services would not only
adversely affect their businesses, but would also adversely affect
approximately 50 employees that are involved in those activities.
Applicants also state that disqualifying the ESC Advisers from
continuing to provide investment advisory services to ESCs is not in
the public interest or in furtherance of the protection of investors.
Because the ESCs have been formed for the benefit of certain eligible
employees, officers, directors and persons on retainer of Citigroup and
its affiliates, it would not be consistent with the purposes of the ESC
provisions of the Act or the ESC Order to require another entity not
affiliated with the ESC Advisers to manage the ESCs. In addition, the
employees of Citigroup and its affiliates subscribed for interests in
the ESCs with the expectation that the ESCs would be managed by an
affiliate of Citigroup.
    7. Applicants previously have received exemptions under section
9(c) as the result of conduct that triggered section 9(a) as described
in greater detail in the application.

Applicants' Condition

    Applicants agree that any order granting the requested relief will
be subject to the following condition:

    Any temporary exemption granted pursuant to the application
shall be without prejudice to, and shall not limit the Commission's
rights in any manner with respect to, any Commission investigation
of, or administrative proceedings involving or against, Covered
Persons, including without limitation, the consideration by the
Commission of a permanent exemption from section 9(a) of the Act
requested pursuant to the application or the revocation or removal
of any temporary exemptions granted under the Act in connection with
the application.

Temporary Order

    The Commission has considered the matter and finds that Applicants
have made the necessary showing to justify granting a temporary
exemption.
    Accordingly,
    it is hereby ordered, pursuant to section 9(c) of the Act, that the
Applicants and any other Covered Persons are granted a temporary
exemption from the provisions of section 9(a), solely with respect to
the Injunction, subject to the condition in the application, from March
11, 2009, until the Commission takes final action on their application
for a permanent order.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
 [FR Doc. E9-5790 Filed 3-17-09; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 196 (Tuesday, October 11, 2016)]
[Notices]
[Page 70105]
[FR Doc No: 2016-24474]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14796-000

GreenGenStorage LLC; Notice of Preliminary Permit Application
Accepted for Filing and Soliciting Comments, Motions To Intervene, and
Competing Applications

    On July 19, 2016, GreenGenStorage LLC filed an application for a
preliminary permit, pursuant to section 4(f) of the Federal Power Act
(FPA), proposing to study the feasibility of the Mokelumne Pumped
Storage Project, to be located on the North Fork Mokelumne River, Bear
River, and Cole Creek, in Amador and Calaveras County, California. The
sole purpose of a preliminary permit, if issued, is to grant the permit
holder priority to file a license application during the permit term. A
preliminary permit does not authorize the permit holder to perform any
land-disturbing activities or otherwise enter upon lands or waters
owned by others without the owners' express permission.
    The project concept envisions the construction of a pumped storage
generating facility consisting of: (1) The existing Salt Springs
Reservoir (part of PG&E's currently licensed Mokelumne River Project
No. 137) as the lower pool; (2) an upper reservoir using either the
existing Upper Bear or Lower Bear River reservoirs (also part of PG&E's
Mokelumne River Project); (3) a 16,000-foot to 20,000-foot power tunnel
connecting the upper reservoir, pump turbines, and the lower reservoir;
(4) an underground powerhouse containing the pump-turbines and motor-
generators; (5) an approximately 3,000-foot-long transmission line; and
(6) appurtenant facilities. GreenGenStorage states that based on
preliminary analyses, the project would have from one to three 380-
megawatt generating units and an average annual electricity production
of between 523 and 742 gigawatt-hours. GreenGenStorage plans to conduct
studies to help further refine the range of suitable generation
capabilities and other project characteristics.
    Applicant Contact: Mr. Edward Cooper, Managing Director and Project
Manager, GreenGenStorage LLC, P.O. Box 537, Summerland, CA 93067, (805)
450-2867 or<EMAIL_ADDRESS>    FERC Contact: John M. Mudre; phone:<PHONE_NUMBER> or
<EMAIL_ADDRESS>    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Competing applications and notices of intent must meet the requirements
of 18 CFR 4.36.
    The Commission strongly encourages electronic filing. Please file
comments, motions to intervene, notices of intent, and competing
applications using the Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief
comments up to 6,000 characters, without prior registration, using the
eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You
must include your name and contact information at the end of your
comments. For assistance, please contact FERC Online Support at
<EMAIL_ADDRESS>(866) 208-3676 (toll free), or (202) 502-
8659 (TTY). In lieu of electronic filing, please send a paper copy to:
Secretary, Federal Energy Regulatory Commission, 888 First Street NE.,
Washington, DC 20426. The first page of any filing should include
docket number P-14796-000.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's Web site at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-14796) in the docket number field to access
the document. For assistance, contact FERC Online Support.

    Dated: October 4, 2016.
Kimberly D. Bose,
Secretary.
[FR Doc. 2016-24474 Filed 10-7-16; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 119 (Monday, June 22, 2015)]
[Notices]
[Pages 35688-35689]
[FR Doc No: 2015-15175]

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SECURITIES AND EXCHANGE COMMISSION

Proposed Collection; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736.

Extension
    Regulation 14C (Commission Rules 14c-1 through 14c-7 and
Schedule 14C), SEC File No. 270-057, OMB Control No. 3235-0057

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``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.
    Section 14(c) of the Securities Exchange Act of 1934 (the
``Exchange Act'') operates to require issuers that do not solicit
proxies or consents from any or all of the holders of record of a class
of securities registered under Section 12 of the Exchange Act and in
accordance with the rules and regulations prescribed under Section
14(a) in connection with a meeting of security holders (including
action by consent) to distribute to any holders that were not solicited
an information statement substantially equivalent to the information
that would be required to be transmitted if a proxy or consent
solicitation were made. Regulation 14C (Exchange Act Rules 14c-1
through 14c-7 and Schedule 14C) (17 CFR 240.14c-1 through 240.14c-7 and
240.14c-101) sets forth the requirements for the dissemination, content
and filing of the information statement. We estimate that Schedule 14C
takes approximately 130.95 hours per response and will be filed by
approximately 569 issuers annually. In addition, we estimate that 75%
of the 130.95 hours per response (98.21 hours) is prepared by the
issuer for an annual reporting burden of 55,881 hours (98.21 hours per
response x 569 responses).

    Written comments are invited on: (a) Whether this collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information will have practical
utility; (b) the accuracy of the agency's estimate of the burden
imposed by the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information collected; and (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology. Consideration will
be given to comments and suggestions submitted in writing within 60
days of this publication.
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
    Please direct your written comments to Pamela Dyson, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email
to<EMAIL_ADDRESS>
    Dated: June 16, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-15175 Filed 6-19-15; 8:45 am]
BILLING CODE 8011-01-P