[Federal Register: December 12, 2008 (Volume 73, Number 240)]
[Notices]
[Page 75729-75730]
[DOCID:fr12de08-92]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

Disaster Housing Assistance Program (DHAP)-Ike

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This document provides notice that the Federal Emergency
Management Agency (FEMA) and the Department of Housing and Urban
Development (HUD) executed an Interagency Agreement (IAA) establishing
a grant program called ``Disaster Housing Assistance Program (DHAP)-
Ike'' for Hurricanes Ike and Gustav. DHAP-Ike is a temporary housing
rental assistance and case management program for identified
individuals and families displaced by Hurricanes Ike and Gustav. Under
the IAA, HUD acts as the servicing agency of DHAP-Ike and will begin
administration of the program effective November 1, 2008.

DATES: FEMA and HUD executed the Interagency Agreement and established
DHAP-Ike for Hurricanes Ike and Gustav on September 23, 2008.

ADDRESSES: Details about DHAP-Ike will be published by HUD in a
subsequent Federal Register Notice. In addition, a copy of the full
text of the FEMA-HUD IAA can be accessed via the FEMA Web site at
http://www.fema.gov. Other related program information on DHAP-Ike is
available on the HUD Web site at http://hud.gov/offices/pih/
publications/ike.cfm. Periodic updates on DHAP-Ike will be posted on
FEMA and HUD's Web sites.

FOR FURTHER INFORMATION CONTACT: Berl D. Jones, Jr., Director,
Individual Assistance Division, Disaster Assistance Directorate,
Federal Emergency Management Agency, Department of Homeland Security,
500 C Street, SW., Washington, DC 20472, telephone<PHONE_NUMBER> (this
is not a toll-free number). Individuals with speech or hearing
impairments may access this number through TTY by calling the toll-free
Federal Information Relay Service at<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: In September 2008, Hurricanes Ike and Gustav
struck the United States causing significant damage to property and the
displacement of tens of thousands of individuals and families from
their homes and communities. Under section 408 of the Robert T.
Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5174,
the Federal Emergency Management Agency (FEMA) disaster housing
programs are short-term assistance programs with a limitation of 18
months, unless extended by the President.
    Because HUD has the expertise in administering various Federal
housing programs, FEMA is relying on HUD's experience to design,
implement, and administer DHAP-Ike for Hurricanes Ike and Gustav in
coordination with and on behalf of FEMA. Under DHAP-Ike, HUD will
provide housing assistance, security and utility deposits, and case
management services to individuals and families displaced by Hurricane
Gustav and Ike. The local Public Housing Agencies (PHAs), which
currently administer the Housing Choice Voucher Program (HCVP) and the
Disaster Housing Assistance Program (DHAP) for Hurricanes Katrina and
Rita, will be designated by HUD to administer DHAP-Ike in their
jurisdictions. PHAs will be awarded grants from FEMA to provide rent
subsidies to eligible families for a period not to exceed 17 months
commencing November 1, 2008

and ending no later than March 13, 2010.
    Families eligible for DHAP-Ike are those identified by FEMA who
currently receive or are eligible to receive initial and/or continued
rental assistance authorized under section 408 of the Stafford Act, 42
U.S.C. 5174, pursuant to the Presidential major disaster declarations
resulting from Hurricane Ike. FEMA will rely on the eligibility
standards established for its temporary housing program at 44 CFR
206.113 and 44 CFR 206.114 in determining who is eligible for referral
to DHAP-Ike. All eligible families wishing to participate in DHAP-Ike
must sign and execute a HUD-provided DHAP lease or addendum to their
current lease, with their landlord, which sets forth the new
obligations to receive the rental subsidy. Similarly, landlords who
agree to participate in DHAP-Ike must sign and execute a Disaster Rent
Subsidy Contract (DRSC) with the PHA outlining the new conditions and
obligations, in addition to signing a lease addendum with the tenant.
    On November 1, 2008, HUD assumed the responsibilities for providing
rental assistance and case management to families identified by FEMA.
Beginning May 1, 2009, the Incremental Rent Transition (IRT) will be
implemented, under which HUD will reduce the amount of rent paid
incrementally by $50 and individuals and families are required to
contribute $50 towards their rental payment. Every month thereafter,
the individual or family's rent contribution will increase in
increments of $50, as HUD's provision is reduced by an equal amount,
until the program ends in March 2010. The program provides a hardship
waiver for the IRT if individuals and families demonstrate they cannot
afford their incremental rent increase.
    No later than August 1, 2009, individuals and families whose rent
burden is less than 30 percent of their post-disaster gross income,
taking into account existing mortgages for primary residences that
remain uninhabitable, will no longer be eligible for DHAP-Ike.
Individuals and families whose rent burden and mortgage exceed 30
percent of their post-disaster income will continue to receive
assistance, subject to the IRT, through March 2010 when the program
ends. Details of the program, including descriptions of IRT, hardship
provision, and 30 percent post-disaster income determinations will be
spelled out in the Federal Register Notice and standard operating
procedures published by HUD.
    The designated PHAs will also provide case management services,
which will include a needs assessment and individual development plan
(IDP) for each family. The objective of HUD case management services is
to promote self-sufficiency for the participating family.
    Details about DHAP-Ike will be published by HUD in a subsequent
Federal Register Notice. In addition, a copy of the full text of the
FEMA-HUD IAA can be accessed via the FEMA Web site at http://
www.fema.gov. Other related program information on DHAP-Ike is
available on the HUD Web site at http://hud.gov/offices/pih/
publications/ike.cfm. Periodic updates on DHAP-Ike will be posted on
FEMA and HUD's Web sites.

    Authority: Legal authority for DHAP-Ike is based on the
Department of Homeland Security's (DHS) general grant authority
under section 102(b)(2) of the Homeland Security Act, 6 U.S.C. 112,
and sections 306(a), 408(b)(1), and 426 of the Robert T. Stafford
Disaster Relief and Emergency Assistance Act (Stafford Act), 42
U.S.C. 5149(a), 5174(b)(1), and 5189d, respectively. As a servicing
agency under a grant from FEMA, and consistent with The Economy Act
(31 U.S.C. 1535), HUD derives all authority under the program from
FEMA and any and all actions originate from FEMA's authority.

    Dated: December 5, 2008.
R. David Paulison,
Administrator, Federal Emergency Management Agency.
[FR Doc. E8-29438 Filed 12-11-08; 8:45 am]

BILLING CODE 9111-23-P


[Federal Register Volume 78, Number 112 (Tuesday, June 11, 2013)]
[Notices]
[Pages 35075-35076]
[FR Doc No: 2013-13860]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday, June
13, 2013 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matters at the Closed Meeting.
    Commissioner Walter, as duty officer, voted to consider the items
listed for the Closed Meeting in a closed session.
    The subject matter of the Closed Meeting will be:
    institution and settlement of injunctive actions;
    institution and settlement of administrative proceedings;
    adjudicatory matters; and

    other matters relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at<PHONE_NUMBER>.

    Dated: June 6, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-13860 Filed 6-6-13; 4:15 pm]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 104 (Thursday, May 30, 2013)]
[Notices]
[Pages 32487-32495]
[FR Doc No: 2013-12821]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69634; File No. SR-NYSEArca-2013-56]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change Relating to Listing and Trading of Shares of
the PowerShares China A-Share Portfolio Under NYSE Arca Equities Rule
8.600

May 23, 2013.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on May 21, 2013, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II, and III below, which
Items have been prepared by the self-regulatory organization. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to list and trade the shares of the following
under NYSE Arca Equities Rule 8.600 (``Managed Fund Shares''):
PowerShares China A-Share Portfolio. The text of the proposed rule
change is available on the Exchange's Web site at www.nyse.com, at the
principal office of the Exchange, 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 self-regulatory organization
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 those statements may be examined at
the places specified in Item IV below.

The Exchange has prepared summaries, set forth in sections A, B, and C
below, of the most significant parts 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 list and trade the shares (``Shares'') of
the PowerShares China A-Share Portfolio (``Fund'') under NYSE Arca
Equities Rule 8.600, which governs the listing and trading of Managed
Fund Shares \4\ on the Exchange.\5\ The Shares will be offered by
PowerShares Actively Managed Exchange-Traded Fund Trust (the
``Trust''), a statutory trust organized under the laws of the State of
Delaware and registered with the Commission as an open-end management
investment company.\6\
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    \4\ A Managed Fund Share is a security that represents an
interest in an investment company registered under the Investment
Company Act of 1940 (15 U.S.C. 80a-1) (``1940 Act'') organized as an
open-end investment company or similar entity that invests in a
portfolio of securities selected by its investment adviser
consistent with its investment objectives and policies. In contrast,
an open-end investment company that issues Investment Company Units,
listed and traded on the Exchange under NYSE Arca Equities Rule
5.2(j)(3), seeks to provide investment results that correspond
generally to the price and yield performance of a specific foreign
or domestic stock index, fixed income securities index or
combination thereof.
    \5\ The Commission approved NYSE Arca Equities Rule 8.600 and
the listing and trading of certain funds of the PowerShares Actively
Managed Exchange-Traded Fund Trust on the Exchange pursuant to Rule
8.600 in Securities Exchange Act Release No. 57619 (April 4, 2008),
73 FR 19544 (April 10, 2008) (SR-NYSEArca-2008-25). The Commission
also previously approved listing and trading on the Exchange of a
number of actively managed funds under Rule 8.600. See, e.g.,
Securities Exchange Act Release Nos. 62502 (July 15, 2010), 75 FR
42471 (July 21, 2010) (SR-NYSEArca-2010-57) (order approving listing
of AdvisorShares WCM/BNY Mellon Focused Growth ADR ETF); 63076
(October 12, 2010), 75 FR 63874 (October 18, 2010) (SR-NYSEArca-
2010-79) (order approving listing of Cambria Global Tactical ETF);
66343 (February 7, 2012), 77 FR 7647 (February 13, 2012) (SR-
NYSEArca-2011-85) (order approving listing of five SPDR SSgA ETFs);
and 68158 (November 5, 2012), 77 FR 67412 (November 9, 2012) (SR-
NYSEArca-2012-101) (order approving listing of PowerShares S&P 500
Downside Hedged Portfolio ETF).
    \6\ The Trust is registered under the 1940 Act. On April 20,
2012, the Trust filed with the Commission a post-effective amendment
to Form N-1A under the Securities Act of 1933 (15 U.S.C. 77a), and
under the 1940 Act relating to the Fund (File Nos. 333-147622 and
811-22148) (``Registration Statement''). The description of the
operation of the Trust and the Fund herein is based, in part, on the
Registration Statement. In addition, the Commission has issued an
order granting certain exemptive relief to the Trust under the 1940
Act. See Investment Company Act Release No. 28171 (February 27,
2008) (File No. 812-13386) (``Exemptive Order'').
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    The investment adviser to the Fund will be Invesco PowerShares
Capital Management LLC (the ``Adviser''). Invesco Distributors, Inc.
(the ``Distributor'') will serve as the distributor of the Fund Shares.
The Bank of New York Mellon Corporation (the ``Administrator,''
``Transfer Agent'' or ``Custodian'') will serve as administrator,
custodian and transfer agent for the Fund.
    Commentary .06 to Rule 8.600 provides that, if the investment
adviser to the investment company issuing Managed Fund Shares is
affiliated with a broker-dealer, such investment adviser shall erect a
``fire wall'' between the investment adviser and the broker-dealer with
respect to access to information concerning the composition and/or
changes to such investment company portfolio. In addition, Commentary
.06 further requires that personnel who make decisions on the open-end
fund's portfolio composition must be subject to procedures designed to
prevent the use and dissemination of material nonpublic information
regarding the open-end fund's portfolio.\7\ Commentary .06 to Rule
8.600 is similar to Commentary .03(a)(i) and (iii) to NYSE Arca
Equities Rule 5.2(j)(3); however, Commentary .06 in connection with the
establishment of a ``fire wall'' between the investment adviser and the
broker-dealer reflects the applicable open-end fund's portfolio, not an
underlying benchmark index, as is the case with index-based funds. The
Adviser is not a broker-dealer but is affiliated with a broker-dealer
and has implemented a fire wall with respect to its broker-dealer
affiliate regarding access to information concerning the composition
and/or changes to the portfolio. In the event (a) the Adviser becomes
newly affiliated with a broker-dealer, or (b) any new adviser or sub-
adviser is a registered broker-dealer or becomes affiliated with a
broker-dealer, it will implement a fire wall with respect to its
relevant personnel or its broker-dealer affiliate regarding access to
information concerning the composition and/or changes to the portfolio,
and will be subject to procedures designed to prevent the use and
dissemination of material non-public information regarding such
portfolio.
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    \7\ An investment adviser to an open-end fund is required to be
registered under the Investment Advisers Act of 1940 (the ``Advisers
Act''). As a result, the Adviser and its related personnel are
subject to the provisions of Rule 204A-1 under the Advisers Act
relating to codes of ethics. This Rule requires investment advisers
to adopt a code of ethics that reflects the fiduciary nature of the
relationship to clients as well as compliance with other applicable
securities laws. Accordingly, procedures designed to prevent the
communication and misuse of non-public information by an investment
adviser must be consistent with Rule 204A-1 under the Advisers Act.
In addition, Rule 206(4)-7 under the Advisers Act makes it unlawful
for an investment adviser to provide investment advice to clients
unless such investment adviser has (i) adopted and implemented
written policies and procedures reasonably designed to prevent
violation, by the investment adviser and its supervised persons, of
the Advisers Act and the Commission rules adopted thereunder; (ii)
implemented, at a minimum, an annual review regarding the adequacy
of the policies and procedures established pursuant to subparagraph
(i) above and the effectiveness of their implementation; and (iii)
designated an individual (who is a supervised person) responsible
for administering the policies and procedures adopted under
subparagraph (i) above.
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Principal Investment Strategies
    According to the Registration Statement, the Fund's investment
objective will be to seek to provide long term capital appreciation.
The Fund will seek to achieve its investment objective by using a
quantitative, rules-based strategy designed to provide returns that
correspond to the performance of the FTSE China A50 Index (the
``Benchmark''). The Benchmark is designed for investors who seek
exposure to China's domestic market through ``A-Shares,'' which are
securities of companies that are incorporated in mainland China and
that trade on the Shanghai Stock Exchange or the Shenzhen Stock
Exchange. The Benchmark is comprised of the securities of the largest
50 A-Share companies, as determined by full market capitalization,
listed on the Shanghai and Shenzhen Stock Exchanges.
    Under normal circumstances,\8\ the Fund generally will invest at
least 80% of its net assets in a combination of investments whose
collective performance is designed to correspond to the performance of
the Benchmark. These investments will be (i) futures contracts on the
Benchmark; (ii) exchange-traded funds (``ETFs'') that provide exposure
to the China A-Shares market (``Underlying ETFs'') \9\; and (iii)

A-Shares included in the Benchmark, to the extent permissible under
Chinese law. As described below, the Fund expects to invest its
remaining assets in U.S. government securities, money market
instruments (including repurchase agreements), cash and cash equivalent
securities (i.e., corporate commercial paper) to collateralize
investments in futures contracts or for other purposes. Although the
Fund will seek to provide returns that generally correspond to the
performance of the Benchmark, the Fund will be actively managed by the
Adviser and will not be designed to track the performance of any index.
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    \8\ The term ``under normal circumstances'' includes, but is not
limited to, the absence of: extreme volatility or trading halts in
the equity markets or the financial markets generally; operational
issues causing dissemination of inaccurate market information; or
force majeure type events such as systems failure, natural or man-
made disaster, act of God, armed conflict, act of terrorism, riot or
labor disruption or any similar intervening circumstance.
    \9\ For purposes of this proposed rule change, Underlying ETFs
include Investment Company Units (as described in NYSE Arca Equities
Rule 5.2(j)(3)) and Managed Fund Shares (as described in NYSE Arca
Equities Rule 8.600). The Underlying ETFs all will be listed and
traded in the U.S. on registered exchanges or the Stock Exchange of
Hong Kong Limited (``HKSE''), a wholly-owned subsidiary of Hong Kong
Exchanges and Clearing Limited. Hong Kong Exchanges and Clearing
Limited is a member of the Intermarket Surveillance Group (``ISG'').
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    According to the Registration Statement, ``A-Shares'' are shares of
stock that are issued by companies incorporated in mainland China and
that are traded in Renminbi on the Shanghai Stock Exchange or the
Shenzhen Stock Exchange. Due to strict controls imposed by the Chinese
government, the Fund currently cannot invest directly in A-Shares,
which are available only to domestic Chinese investors and a limited
pool of foreign investors, including foreign investors who have been
approved as a Qualified Foreign Institutional Investor (``QFII'') by
the China Securities Regulatory Commission (``CSRC'') and have obtained
a QFII license. After obtaining a QFII license, a QFII applies to
China's State Administration of Foreign Exchange for a specific
aggregate dollar amount investment quota of A-Shares (the ``A-Share
Quota'') in which the QFII can invest. In order for the Fund to invest
directly in A-Shares, the Adviser would need to apply for a QFII
license and obtain an A-Share Quota.
    If the Adviser obtains a QFII license, the Fund may invest directly
in A-Shares through the QFII license. There are no assurances that such
a QFII license would be granted, or that such a license, if granted,
would permit the Fund to purchase A-Shares in an amount necessary to
provide the Fund with sufficient A-Shares exposure.
    Because it currently cannot invest in A-Shares directly, the Fund
will invest primarily in futures contracts on the Benchmark that
provide exposure to the China A-Shares market. These futures contracts
are listed on the Singapore Exchange (``SGX'').\10\ By investing in
futures contracts on the Benchmark, the Fund will have no direct
ownership of the A-Shares of the companies included in the Benchmark,
but the Fund will gain exposure to the performance of those
companies.\11\
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    \10\ SGX is a member of the ISG. See note 28 and accompanying
text, infra.
    \11\ According to the Registration Statement, futures contracts
on the Benchmark were first approved for investment by U.S.
investors by the Commodity Futures Trading Commission (``CFTC'') in
January 2012. Futures contracts on the Benchmark have expirations
ranging from the two nearest consecutive months, and March, June,
September and December on a 1-year cycle, and provide investors the
ability to invest based on their view of the future direction or
movement of the Benchmark. FTSE International Limited (``FTSE'')
reviews constituents in the Benchmark quarterly using data from the
close of business on the Monday following the third Friday in
February, May, August and November. FTSE will implement any
constituent changes on the next trading day following the third
Friday in March, June, September and December.
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    The Fund also may invest in Underlying ETFs listed on U.S.
securities exchanges or on the HKSE that provide exposure to China A-
Shares.
    The Fund will invest in futures contracts on the Benchmark--
specifically, in SGX-listed futures contracts--as a significant part of
its investment strategy. Generally, futures contracts are a type of
derivative whose value depends upon, or is derived from, the value of
an underlying asset, reference rate or index. The Fund's use of futures
contracts will be underpinned by investments in short-term, high
quality U.S. Treasury Securities, money market instruments, cash and
cash equivalent securities, as described below.\12\ The Trust's
Exemptive Order places no limit on the amount of derivatives in which
the Fund can invest. The futures contracts will be used to simulate
full investment in China A-Share securities. To the extent the Fund
uses futures, it will do so only in accordance with Rule 4.5 of the
Commodity Exchange Act (``CEA'').\13\
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    \12\ With respect to certain kinds of futures entered into by
the Fund that involve obligations to make future payments to third
parties, under applicable federal securities laws, rules, and
interpretations thereof, the Fund must ``set aside'' (referred to
sometimes as ``asset segregation'') liquid assets, or engage in
other measures to ``cover'' open positions with respect to such
transactions. With respect to futures contracts that are not
contractually required to ``cash-settle,'' the Fund must cover its
open positions by setting aside liquid assets equal to the
contracts' full, notional value. With respect to futures contracts
that are contractually required to ``cash-settle,'' the Fund may set
aside liquid assets in an amount equal to the Fund's daily marked-
to-market (net) obligation rather than the notional value of the
futures contract.
    \13\ 7 U.S.C. 1. As set forth in the Registration Statement, to
the extent the Fund uses futures contracts, it will do so only in
accordance with Rule 4.5 of the CEA. The Trust has filed a notice of
eligibility for exclusion from the definition of the term
``commodity pool operator'' or ``CPO'' in accordance with Rule 4.5
of the CEA. Under amendments to Rule 4.5 adopted in February 2012,
an investment adviser of a registered investment company may claim
exclusion from registration as a CPO only if the registered
investment company it advises uses futures contracts solely for
``bona fide hedging purposes'' or limits its use of futures
contracts for non-bona fide hedging purposes in specified ways.
Because the Fund does not expect to use futures contracts solely for
``bona fide hedging purposes,'' the Fund will be subject to rules
that will require it to limit its use of positions in futures
contracts in accordance with the requirements of amended Rule 4.5
unless the Adviser otherwise complies with CPO regulation. To the
extent that the Fund is unable to rely on Rule 4.5, the Fund will be
operated in accordance with CFTC rules; the Adviser already is
registered as a CPO.
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The Subsidiary
    According to the Registration Statement, the Fund may seek to gain
exposure to the A-Shares market through investments in a subsidiary
organized in the Cayman Islands (the ``Subsidiary''), that in turn
would make investments in futures contracts that provide exposure to
China A-Shares. If utilized, the Subsidiary would be wholly-owned and
controlled by the Fund, and its investments would be consolidated into
the Fund's financial statements. Should the Fund invest in the
Subsidiary, that investment may not exceed 25% of the Fund's total
assets at each quarter end of the Fund's fiscal year. Further, should
the Fund invest in the Subsidiary, it would be expected to provide the
Fund with exposure to A-Share returns within the limits of the federal
tax requirements applicable to investment companies, such as the Fund.
    According to the Registration Statement, the Subsidiary would be
able to invest in futures contracts that would provide exposure to A-
Shares, as well in other investments that would serve as margin or
collateral or otherwise support the Subsidiary's futures positions. The
Subsidiary, accordingly, would be subject to the same general
investment policies and restrictions as the Fund, except that unlike
the Fund, which must invest in futures contracts in compliance with the
requirements of Subchapter M of the Internal Revenue Code,\14\ federal
securities laws and the CEA, the Subsidiary may invest without
limitation in futures. References to the investment strategies and
risks of the Fund include the investment strategies and risks of the
Subsidiary.
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    \14\ 26 U.S.C. 851.
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    According to the Registration Statement, the Fund may utilize the
Subsidiary, but is not required to do so. If it is utilized, the
Subsidiary will not be registered under the 1940 Act. As an investor in
the Subsidiary, the Fund, as the Subsidiary's sole shareholder, would
not have the protections offered to investors in registered investment
companies. However, because the Fund

would wholly own and control the Subsidiary, and the Fund and
Subsidiary would be managed by the Adviser, the Subsidiary would not
take action contrary to the interests of the Fund or the Fund's
shareholders. The Board of Trustees of the Trust (the ``Board'') has
oversight responsibility for the investment activities of the Fund,
including its investment in the Subsidiary, and the Fund's role as the
sole shareholder of the Subsidiary. Also, in managing the Subsidiary's
portfolio, the Adviser would be subject to the same investment
restrictions and operational guidelines that apply to the management of
the Fund. Changes in the laws of the United States, under which the
Fund is organized, or of the Cayman Islands, under which the Subsidiary
is organized, could result in the inability of the Fund or the
Subsidiary to operate as described in this filing or in the
Registration Statement and could negatively affect the Fund and its
shareholders.
Other Investments
    According to the Registration Statement, the Fund, under normal
circumstances, may invest no more than 20% of its net assets in other
investments such as money market instruments (including repurchase
agreements, as described below), cash and cash equivalents to provide
liquidity or to collateralize its investments in futures contracts. The
instruments in which the Fund may invest include: (i) Short-term
obligations issued by the U.S. Government \15\; (ii) short term
negotiable obligations of commercial banks, fixed time deposits \16\
and bankers' acceptances of U.S. and foreign banks and similar
institutions; (iii) commercial paper rated at the date of purchase
``Prime-1'' by Moody's Investors Service, Inc. or ``A-1+'' or ``A-1''
by Standard & Poor's or, if unrated, of comparable quality, as the
Adviser of the Fund determines; and (iv) money market mutual funds.
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    \15\ The Fund may invest in U.S. government obligations.
Obligations issued or guaranteed by the U.S. Government, its
agencies and instrumentalities include bills, notes and bonds issued
by the U.S. Treasury, as well as ``stripped'' or ``zero coupon''
U.S. Treasury obligations representing future interest or principal
payments on U.S. Treasury notes or bonds.
    \16\ Time deposits are non-negotiable deposits maintained in
banking institutions for specified periods of time at stated
interest rates. Banker's acceptances are time drafts drawn on
commercial banks by borrowers, usually in connection with
international transactions.
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    The Fund may invest in the securities of other investment companies
(including money market funds) beyond the limits permitted under the
1940 Act, subject to certain terms and conditions set forth in a
Commission exemptive order issued pursuant to Section 12(d)(1)(J) of
the 1940 Act.\17\
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    \17\ Investment Company Act Release No. 30238 (October 23, 2012)
(File No. 812-13820).
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    According to the Registration Statement, the Fund may enter into
repurchase agreements, which are agreements pursuant to which
securities are acquired by the Fund from a third party with the
understanding that they will be repurchased by the seller at a fixed
price on an agreed date. These agreements may be made with respect to
any of the portfolio securities in which the Fund is authorized to
invest. Repurchase agreements may be characterized as loans secured by
the underlying securities. The Fund may enter into repurchase
agreements with (i) member banks of the Federal Reserve System having
total assets in excess of $500 million and (ii) securities dealers
(``Qualified Institutions''). The Adviser will monitor the continued
creditworthiness of Qualified Institutions.
    According to the Registration Statement, the Fund may enter into
reverse repurchase agreements, which involve the sale of securities
with an agreement to repurchase the securities at an agreed-upon price,
date and interest payment and have the characteristics of borrowing.
The securities purchased with the funds obtained from the agreement and
securities collateralizing the agreement will have maturity dates no
later than the repayment date.
Investment Restrictions
    The Fund's investments will be consistent with the Fund's
investment objective and will not be used to enhance leverage.
    According to the Registration Statement, the Fund may hold up to an
aggregate amount of 15% of its net assets in illiquid securities
(calculated at the time of investment). The Fund will monitor its
portfolio liquidity on an ongoing basis to determine whether, in light
of current circumstances, an adequate level of liquidity is being
maintained, and will consider taking appropriate steps in order to
maintain adequate liquidity if, through a change in values, net assets,
or other circumstances, more than 15% of the Fund's net assets are held
in illiquid securities. Illiquid securities include securities subject
to contractual or other restrictions on resale and other instruments
that lack readily available markets as determined in accordance with
Commission staff guidance.\18\
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    \18\ The Commission has stated that long-standing Commission
guidelines have required open-end funds to hold no more than 15% of
their net assets in illiquid securities and other illiquid assets.
See Investment Company Act Release No. 28193 (March 11, 2008), 73 FR
14618 (March 18, 2008), footnote 34. See also, Investment Company
Act Release No. 5847 (October 21, 1969), 35 FR 19989 (December 31,
1970) (Statement Regarding ``Restricted Securities''); Investment
Company Act Release No. 18612 (March 12, 1992), 57 FR 9828 (March
20, 1992) (Revisions of Guidelines to Form N-1A). A fund's portfolio
security is illiquid if it cannot be disposed of in the ordinary
course of business within seven days at approximately the value
ascribed to it by the fund. See Investment Company Act Release No.
14983 (March 12, 1986), 51 FR 9773 (March 21, 1986) (adopting
amendments to Rule 2a-7 under the 1940 Act); Investment Company Act
Release No. 17452 (April 23, 1990), 55 FR 17933 (April 30, 1990)
(adopting Rule 144A under the Securities Act of 1933).
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    The Fund will not use futures for speculative purposes.
    According to the Registration Statement, the Fund may not
concentrate its investments (i.e., invest more than 25% of the value of
its net assets) in securities of issuers in any one industry or group
of industries. This restriction does not apply to obligations issued or
guaranteed by the U.S. Government, its agencies or
instrumentalities.\19\
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    \19\ See Form N-1A, Item 9. The Commission has taken the
position that a fund is concentrated if it invests more than 25% of
the value of its total assets in any one industry. See, e.g.,
Investment Company Act Release No. 9011 (October 30, 1975), 40 FR
54241 (November 21, 1975).
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    According to the Registration Statement, the Fund intends to
qualify for and to elect to be treated as a separate regulated
investment company (a ``RIC'') under Subchapter M of the Internal
Revenue Code.\20\
---------------------------------------------------------------------------

    \20\ 26 U.S.C. 851.
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    The Fund will not invest in any non-U.S. equity securities (other
than shares of the Subsidiary and Underlying ETFs listed on HKSE), to
the extent that the Fund may not invest directly in China A-Shares
through the QFII license, as described above. The Fund will not invest
in options or swaps.
Net Asset Value
    According to the Registration Statement, the Administrator will
calculate the Fund's net asset value (``NAV'') per Share at the close
of regular trading (normally 4:00 p.m., Eastern time) every day the New
York Stock Exchange (``NYSE'') is open. NAV per Share will be
calculated by deducting all of the Fund's liabilities from the total
value of its assets and dividing the result by the number of Shares
outstanding, rounding to the nearest cent (although creations and
redemptions will be processed using a

price denominated to the fifth decimal point, meaning that rounding to
the nearest cent may result in different prices in certain
circumstances). All valuations will be subject to review by the Board
or its delegate.
    According to the Registration Statement, in determining NAV,
expenses will be accrued and applied daily and securities and other
assets for which market quotations are readily available will be valued
at market value. Securities and futures listed or traded on an exchange
generally will be valued at the last sales price or official closing
price that day as of the close of the exchange where the security
primarily is traded. The NAV for the Fund will be calculated and
disseminated daily. If a security's or futures' market price is not
readily available, the security or futures will be valued using pricing
provided from independent pricing services or by another method that
the Adviser, in its judgment, believes will better reflect the
security's or futures' fair value in accordance with the Trust's
valuation policies and procedures approved by the Trust's Board and
with the 1940 Act.
Creations and Redemptions
    The Fund will issue and redeem Shares at NAV only with authorized
participants (``APs'') and only in large blocks of 50,000 Shares (each,
a ``Creation Unit'') or multiples thereof.
    The Trust will issue Shares of the Fund only in Creation Units on a
continuous basis through the Distributor, without a sales load, at the
NAV next determined after receipt, on any business day, of an order in
proper form.
    Creation Units of the Fund will generally be issued principally for
cash, calculated based on the NAV per Share, multiplied by the number
of Shares representing a Creation Unit (``Deposit Cash''), plus a fixed
and variable transaction fee. However, the Fund also reserves the right
to permit or require Creation Units to be issued in exchange for a
designated portfolio of securities (``Deposit Securities''), as
discussed below, together with the deposit of an amount of cash (the
``Cash Component'') computed as discussed in the Registration
Statement.\21\ Together, the Deposit Securities and the Cash Component
constitute the ``Fund Deposit,'' which represents the minimum initial
and subsequent investment amount for a Creation Unit of the Fund. If
in-kind creations are permitted or required, the Adviser expects that
the Deposit Securities should correspond pro rata, to the extent
practicable, to the securities held by the Fund and the Subsidiary. In
such event, the Cash Component will represent the difference between
the NAV of a Creation Unit and the market value of the Deposit
Securities.
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    \21\ The Cash Component is sometimes also referred to as the
``Balancing Amount.'' If the Cash Component is a positive number
(i.e., the NAV per Creation Unit exceeds the Deposit Amount), the AP
will deliver the Cash Component. If the Cash Component is a negative
number (i.e., the NAV per Creation Unit is less than the Deposit
Amount), the AP will receive the Cash Component.
---------------------------------------------------------------------------

    To the extent that the Fund permits Creation Units to be issued in-
kind, the Custodian, through the National Securities Clearing
Corporation (``NSCC''), will make available on each business day, prior
to the opening of business on the Exchange (currently 9:30 a.m.,
Eastern time), the list of the names and the required number of shares
of each Deposit Security to be included in the current Fund Deposit
(based on information at the end of the previous business day) for the
Fund. Such Fund Deposit is applicable, subject to any adjustments as
described in the Registration Statement, to effect creations of
Creation Units of the Fund until such time as the next announced
composition of the Deposit Securities is made available.
    When applicable, during times that the Fund permits in-kind
creations, the identity and number of shares of the Deposit Securities
required for a Fund Deposit will change as rebalancing adjustments and
corporate action events occur. In addition, the Trust reserves the
right to permit or require the substitution of an amount of cash--i.e.,
a ``cash in lieu'' amount--to be added to the Cash Component to replace
any Deposit Security that may not be available in sufficient quantity
for delivery or which might not be eligible for trading by an AP or the
investor for which it is acting or any other relevant reason.
    In addition to the list of names and numbers of securities
constituting the current Deposit Securities of the Fund Deposit, the
Custodian, through the NSCC, also will make available on each business
day, the estimated Cash Component, effective through and including the
previous business day, per Creation Unit of the Fund.
    The Distributor must receive all orders to create Creation Units no
later than the closing time of the regular trading session on the NYSE
(ordinarily 4:00 p.m., Eastern time) in each case on the date such
order is placed in order for creation of Creation Units to be effected
based on the NAV of Shares of the Fund as next determined on such date
after receipt of the order in proper form.
    Creation Units of the Fund will be redeemed principally for cash.
Shares may be redeemed only in Creation Units at their NAV next
determined after receipt of a redemption request in proper form by the
Fund through the Custodian and only on a business day.
    If the Fund permits Creation Units to be redeemed in-kind, the
Custodian, through the NSCC, will make available prior to the opening
of business on the Exchange (currently 9:30 a.m., Eastern time) on each
business day, the identity of the ``Fund Securities'' that will be
applicable (subject to possible amendment or correction) to redemption
requests received in proper form (as described below) on that day. Fund
Securities received on redemption may not be identical to Deposit
Securities that will be applicable to creations of Creation Units. The
Fund will not redeem Shares in amounts less than Creation Unit size.
    For redemptions in-kind, the redemption proceeds for a Creation
Unit generally will consist of Fund Securities plus or minus cash in an
amount equal to the difference between the NAV of the Shares being
redeemed, as next determined after a receipt of a request in proper
form, and the value of the Fund Securities, less a redemption
transaction fee as noted below. In the event that the Fund Securities
have a value greater than the NAV of the Shares, a compensating cash
payment equal to the difference is required to be made by or through an
AP by the redeeming shareholder.
    A redemption transaction fee may be imposed to offset transfer and
other transaction costs that may be incurred by the Fund.
    An order to redeem Creation Units must be made in proper form and
received by the Fund by 4:00 p.m., Eastern time. Orders received after
4:00 p.m., Eastern time will be deemed received on the next business
day and will be effected at the NAV next determined on such next
business day. The requisite Fund Securities and cash amount will be
transferred by the third NSCC business day following the date on which
such request for redemption is deemed received.
Initial and Continued Listing
    The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600. The Exchange represents
that, for initial and/or continued listing, the Fund will be in
compliance with Rule 10A-3 \22\ under the Act, as provided by NYSE Arca
Equities Rule 5.3. A minimum of

100,000 Shares will be outstanding at the commencement of trading on
the Exchange. The Exchange will obtain a representation from the issuer
of the Shares that the NAV per Share will be calculated daily and that
the NAV and the Disclosed Portfolio for the Fund will be made available
to all market participants at the same time.
---------------------------------------------------------------------------

    \22\ 17 CFR 240.10A-3.
---------------------------------------------------------------------------

Availability of Information
    The Fund's Web site (www.invescopowershares.com), which will be
publicly available prior to the public offering of Shares, will include
a form of the prospectus for the Fund that may be downloaded. The
Fund's Web site will include additional quantitative information
updated on a daily basis, including, for the Fund, (1) daily trading
volume, the prior business day's reported closing price, NAV and mid-
point of the bid/ask spread at the time of calculation of such NAV (the
``Bid/Ask Price''),\23\ and a calculation of the premium and discount
of the Bid/Ask Price against the NAV, and (2) data in chart format
displaying the frequency distribution of discounts and premiums of the
daily Bid/Ask Price against the NAV, within appropriate ranges, for
each of the four previous calendar quarters. On each business day,
before commencement of trading in Shares in the Core Trading Session on
the Exchange, the Fund will disclose on its Web site the Disclosed
Portfolio as defined in NYSE Arca Equities Rule 8.600(c)(2) held by the
Fund and the Subsidiary that will form the basis for the Fund's
calculation of NAV at the end of the business day.\24\
---------------------------------------------------------------------------

    \23\ The Bid/Ask Price of the Fund will be determined using mid-
point of the highest bid and the lowest offer on the Exchange as of
the time of calculation of the Fund's NAV. The records relating to
Bid/Ask Prices will be retained by the Fund and its service
providers.
    \24\ Under accounting procedures followed by the Fund, trades
made on the prior business day (``T'') will be booked and reflected
in NAV on the current business day (``T+1''). Accordingly, the Fund
will be able to disclose at the beginning of the business day the
portfolio that will form the basis for the NAV calculation at the
end of the business day.
---------------------------------------------------------------------------

    On a daily basis, the Fund will disclose for each portfolio
security, futures contract and other financial instrument of the Fund
and the Subsidiary the following information on the Fund's Web site:
ticker symbol (if applicable), name of security, futures contract and
financial instrument, number of shares, if applicable, and dollar value
of each security, futures contract and financial instrument held in the
portfolio, and percentage weighting of the security, futures contract
and financial instrument in the portfolio. The Web site information
will be publicly available at no charge. Information on the value and
the constituents of the Benchmark may be found on the Web site of FTSE,
the Benchmark's provider, at www.ftse.com.
    In addition, for in-kind creations, a basket composition file,
which will include the security names and share quantities to deliver
in exchange for Shares, together with estimates and actual cash
components, will be publicly disseminated daily prior to the opening of
the Exchange via the NSCC. The basket will represent one Creation Unit
of the Fund.
    Investors can also obtain the Trust's Statement of Additional
Information (``SAI''), the Fund's Shareholder Reports, and the Trust's
Form N-CSR and Form N-SAR, filed twice a year. The Trust's SAI and
Shareholder Reports will be available free upon request from the Trust,
and those documents and the Form N-CSR and Form N-SAR may be viewed on-
screen or downloaded from the Commission's Web site at www.sec.gov.
Information regarding market price and trading volume of the Shares
will be continually available on a real-time basis throughout the day
on brokers' computer screens and other electronic services. Information
regarding the previous day's closing price and trading volume
information for the Shares will be published daily in the financial
section of newspapers. Quotation and last sale information for the
Shares will be available via the Consolidated Tape Association
(``CTA'') high-speed line. In addition, the Portfolio Indicative Value,
as defined in NYSE Arca Equities Rule 8.600(c)(3), will be widely
disseminated at least every 15 seconds during the Core Trading Session
by one or more major market data vendors.\25\ The dissemination of the
Portfolio Indicative Value, together with the Disclosed Portfolio, will
allow investors to determine the value of the underlying portfolio of
the Fund on a daily basis and will provide a close estimate of that
value throughout the trading day. The intra-day, closing and settlement
prices of the portfolio investments (e.g., futures contracts and
Underlying ETFs) are also readily available from the exchanges trading
such securities or futures contracts, automated quotation systems,
published or other public sources, or on-line information services such
as Bloomberg or Reuters.
---------------------------------------------------------------------------

    \25\ Currently, it is the Exchange's understanding that several
major market data vendors widely disseminate Portfolio Indicative
Values taken from CTA or other data feeds.
---------------------------------------------------------------------------

    Additional information regarding the Trust and the Shares,
including investment strategies, risks, creation and redemption
procedures, fees, portfolio holdings disclosure policies, distributions
and taxes is included in the Registration Statement. All terms relating
to the Fund that are referred to, but not defined in, this proposed
rule change are defined in the Registration Statement.
Trading Halts
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of the Fund.\26\ Trading in Shares of the Fund
will be halted if the circuit breaker parameters in NYSE Arca Equities
Rule 7.12 have been reached. Trading also may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable. These may include: (1) the
extent to which trading is not occurring in the securities, futures
contracts and/or the financial instruments comprising the Disclosed
Portfolio of the Fund; or (2) whether other unusual conditions or
circumstances detrimental to the maintenance of a fair and orderly
market are present. Trading in the Shares will be subject to NYSE Arca
Equities Rule 8.600(d)(2)(D), which sets forth circumstances under
which Shares of the Fund may be halted.
---------------------------------------------------------------------------

    \26\ See NYSE Arca Equities Rule 7.12.
---------------------------------------------------------------------------

Trading Rules
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. Shares will trade on
the NYSE Arca Marketplace from 4:00 a.m. to 8:00 p.m. Eastern time in
accordance with NYSE Arca Equities Rule 7.34 (Opening, Core, and Late
Trading Sessions). The Exchange has appropriate rules to facilitate
transactions in the Shares during all trading sessions. As provided in
NYSE Arca Equities Rule 7.6, Commentary .03, the minimum price
variation (``MPV'') for quoting and entry of orders in equity
securities traded on the NYSE Arca Marketplace is $0.01, with the
exception of securities that are priced less than $1.00 for which the
MPV for order entry is $0.0001.
Surveillance
    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances, administered by the Financial
Industry Regulatory Authority (``FINRA'') on behalf of the Exchange,
which are

designed to detect violations of Exchange rules and applicable federal
securities laws.\27\ The Exchange represents that these procedures are
adequate to properly monitor Exchange trading of the Shares in all
trading sessions and to deter and detect violations of Exchange rules
and applicable federal securities laws.
---------------------------------------------------------------------------

    \27\ FINRA surveils trading on the Exchange pursuant to a
regulatory services agreement. The Exchange is responsible for
FINRA's performance under this regulatory services agreement.
---------------------------------------------------------------------------

    The surveillances referred to above generally focus on detecting
securities trading outside their normal patterns, which could be
indicative of manipulative or other violative activity. When such
situations are detected, surveillance analysis follows and
investigations are opened, where appropriate, to review the behavior of
all relevant parties for all relevant trading violations. FINRA, on
behalf of the Exchange, will communicate as needed regarding trading in
the Shares with other markets that are members of the ISG or with which
the Exchange has in place a comprehensive surveillance sharing
agreement.\28\ All U.S. securities exchanges, Hong Kong Exchanges and
Clearing Limited and SGX are members of the ISG.
---------------------------------------------------------------------------

    \28\ For a list of the current members of ISG, see
www.isgportal.org. The Exchange notes that not all components of the
Disclosed Portfolio for the Fund may trade on markets that are
members of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
---------------------------------------------------------------------------

    The Fund will invest solely in SGX-listed futures contracts on the
Benchmark. It is possible that the futures contracts on the Benchmark
may become listed on other exchanges that are members of ISG or with
which the Exchange has in place a comprehensive surveillance sharing
agreement, at which time the Fund may invest in those futures contracts
listed on such exchanges. To the extent that the Fund or the Subsidiary
were to invest in futures contracts on the Benchmark that were traded
on exchanges other than SGX, not more than 10% of the weight of such
futures contracts held by the Fund or the Subsidiary in the aggregate
would consist of components whose principal trading market is not a
member of ISG or is a market with which the Exchange does not have a
comprehensive surveillance sharing agreement. Furthermore, to the
extent that the Fund invests directly in China A-Shares, not more than
10% of the weight of the Fund's portfolio in the aggregate shall
consist of such China A-Shares whose principal trading market is not a
member of ISG or is a market with which the Exchange does not have a
comprehensive surveillance sharing agreement.
    In addition, the Exchange also has a general policy prohibiting the
distribution of material, non-public information by its employees.
Information Bulletin
    Prior to the commencement of trading, the Exchange will inform its
Equity Trading Permit (``ETP'') Holders in an Information Bulletin
(``Bulletin'') of the special characteristics and risks associated with
trading the Shares. Specifically, the Bulletin will discuss the
following: (1) The procedures for purchases and redemptions of Shares
in Creation Unit aggregations (and that Shares are not individually
redeemable); (2) NYSE Arca Equities Rule 9.2(a), which imposes a duty
of due diligence on its ETP Holders to learn the essential facts
relating to every customer prior to trading the Shares; (3) the risks
involved in trading the Shares during the Opening and Late Trading
Sessions when an updated Portfolio Indicative Value will not be
calculated or publicly disseminated; (4) how information regarding the
Portfolio Indicative Value will be disseminated; (5) the requirement
that ETP Holders deliver a prospectus to investors purchasing newly
issued Shares prior to or concurrently with the confirmation of a
transaction; and (6) trading information.
    In addition, the Bulletin will reference that the Fund is subject
to various fees and expenses described in the Registration Statement.
The Bulletin will discuss any exemptive, no-action, and interpretive
relief granted by the Commission from any rules under the Act. The
Bulletin will also disclose that the NAV for the Shares will be
calculated after 4:00 p.m. Eastern time each trading day.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \29\ that an exchange have rules that
are designed to prevent fraudulent and manipulative acts and practices,
to promote just and equitable principles of trade, to remove
impediments to, and perfect the mechanism of a free and open market
and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \29\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in NYSE Arca Equities Rule
8.600. The Exchange has in place surveillance procedures that are
adequate to properly monitor trading in the Shares in all trading
sessions and to deter and detect violations of Exchange rules and
applicable federal securities laws. The Adviser is affiliated with a
broker-dealer, and has implemented a fire wall with respect to its
broker-dealer affiliate regarding access to information concerning the
composition and/or changes to the portfolio. The Exchange may obtain
information via ISG from other exchanges that are members of ISG,
including Hong Kong Exchanges and Clearing Limited and SGX, or with
which the Exchange has entered into a comprehensive surveillance
sharing agreement. The holdings of the Fund will be comprised primarily
of SGX-listed futures contracts on the Benchmark, as well as Underlying
ETFs that provide exposure to the China A-Shares market. The Fund also
will invest directly in A-Shares to the extent permissible under
Chinese law. The Fund expects to invest its remaining assets in U.S.
government securities, money market instruments, cash and cash
equivalent securities (i.e., corporate commercial paper) in order to
collateralize investments in futures or for other purposes. If the Fund
may not invest directly in China A-Shares through the QFII license, as
described above, then it will not invest in any non-U.S. equity
securities (other than shares of the Subsidiary and Underlying ETFs
listed on HKSE). Futures contracts are the only derivative instrument
that the Fund will use as part of its investment strategy. The Fund
will not invest in options or swaps. The Fund will limit its
investments in illiquid securities to 15% of its net assets. The Fund's
investments will be consistent with the Fund's investment objective and
will not be used to enhance leverage. Information on the value and the
constituents of the Benchmark may be found on the Web site of FTSE,
www.ftse.com. The intra-day, closing and settlement prices of the
portfolio investments (e.g., futures contracts and Underlying ETFs)
also are readily available from the exchanges trading such securities
or futures contracts, automated quotation systems, published or other
public sources, or on-line information services.
    As stated above, the Fund will invest solely in futures contracts
on the Benchmark that are listed on the SGX. If futures contracts on
the Benchmark become listed on other exchanges that are members of ISG
or with which the Exchange has in place a comprehensive surveillance
sharing agreement, the

Fund may invest in those futures contracts listed on such exchanges. To
the extent that the Fund or the Subsidiary were to invest in futures
contracts on the Benchmark that were traded on exchanges other than
SGX, not more than 10% of the weight of such futures contracts held by
the Fund or the Subsidiary in the aggregate would consist of components
whose principal trading market is not a member of ISG or is a market
with which the Exchange does not have a comprehensive surveillance
sharing agreement. Furthermore, to the extent that the Fund invests
directly in China A-Shares, not more than 10% of the weight of the
Fund's portfolio in the aggregate shall consist of such China A-Shares
whose principal trading market is not a member of ISG or is a market
with which the Exchange does not have a comprehensive surveillance
sharing agreement.
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that the Exchange will obtain a representation from the issuer of the
Shares that the NAV per Share will be calculated daily, and that the
NAV and the Disclosed Portfolio will be made available to all market
participants at the same time. In addition, a large amount of
information will be publicly available regarding the Fund and the
Shares, thereby promoting market transparency. Moreover, the Portfolio
Indicative Value will be widely disseminated through the facilities of
the CTA or by one or more major market data vendors at least every 15
seconds during the Exchange's Core Trading Session. On each business
day, before commencement of trading in Shares in the Core Trading
Session on the Exchange, the Fund will disclose on its Web site the
Disclosed Portfolio that will form the basis for the Fund's calculation
of NAV at the end of the business day. Information regarding market
price and trading volume of the Shares will be continually available on
a real-time basis throughout the day on brokers' computer screens and
other electronic services, and quotation and last sale information will
be available via the CTA high-speed line. The Web site for the Fund
will include a form of the prospectus for the Fund and additional data
relating to NAV and other applicable quantitative information.
Moreover, prior to the commencement of trading, the Exchange will
inform its ETP Holders in an Information Bulletin of the special
characteristics and risks associated with trading the Shares. Trading
in Shares of the Fund will be halted if the circuit breaker parameters
in NYSE Arca Equities Rule 7.12 have been reached or because of market
conditions or for reasons that, in the view of the Exchange, make
trading in the Shares inadvisable, and trading in the Shares will be
subject to NYSE Arca Equities Rule 8.600(d)(2)(D), which sets forth
circumstances under which trading in Shares of the Fund may be halted.
In addition, as noted above, investors will have ready access to
information regarding the Fund's holdings, the Portfolio Indicative
Value, the Disclosed Portfolio, and quotation and last sale information
for the Shares.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect investors and the
public interest in that it will facilitate the listing and trading of
an additional type of actively-managed exchange-traded product that
will enhance competition among market participants, to the benefit of
investors and the marketplace. As noted above, the Exchange has in
place surveillance procedures relating to trading in the Shares and may
obtain information via ISG from other exchanges that are members of ISG
or with which the Exchange has entered into a comprehensive
surveillance sharing agreement. In addition, as noted above, investors
will have ready access to information regarding the Fund's holdings,
the Portfolio Indicative Value, the Disclosed Portfolio, and quotation
and last sale information for the Shares.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change will facilitate the listing and trading of an
additional type of actively-managed exchange-traded product that has an
index of Chinese stocks as its Benchmark and that will enhance
competition among market participants, to the benefit of investors and
the marketplace.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2013-56 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEArca-2013-56. 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 Web site (http://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 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 Web site 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. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NYSEArca-2013-56 and should be submitted on or before
June 20, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\30\
---------------------------------------------------------------------------

    \30\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-12821 Filed 5-29-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 160 (Friday, August 19, 2022)]
[Notices]
[Pages 51157-51158]
[FR Doc No: 2022-17880]

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DEPARTMENT OF LABOR

Occupational Safety and Health Administration

[Docket No. OSHA-2006-0042]

CSA Group Testing & Certification Inc.: Grant of Expansion of
Recognition

AGENCY: Occupational Safety and Health Administration (OSHA), Labor.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In this notice, OSHA announces the final decision to expand
the scope of recognition for CSA Group Testing & Certification Inc., as
a Nationally Recognized Testing Laboratory (NRTL).

DATES: The expansion of the scope of recognition becomes effective on
August 19, 2022.

FOR FURTHER INFORMATION CONTACT: Information regarding this notice is
available from the following sources:
    Press inquiries: Contact Mr. Frank Meilinger, Director, OSHA Office
of Communications, U.S. Department of Labor; telephone<PHONE_NUMBER>
or email meilinger.[email protected].
    General and technical information: Contact Mr. Kevin Robinson,
Director, Office of Technical Programs and Coordination Activities,
Directorate of Technical Support and Emergency Management, Occupational
Safety and Health Administration, U.S. Department of Labor; telephone
(202) 693-2110 or email [email protected].

SUPPLEMENTARY INFORMATION:

I. Notice of Final Decision

    OSHA hereby gives notice of the expansion of the scope of
recognition of CSA Group Testing & Certification Inc. (CSA) as a NRTL.
CSA's expansion

covers the addition of one test standard to the NRTL scope of
recognition.
    OSHA recognition of a NRTL signifies that the organization meets
the requirements specified in 29 CFR 1910.7. Recognition is an
acknowledgment that the organization can perform independent safety
testing and certification of the specific products covered within the
scope of recognition. Each NRTL's scope of recognition includes (1) the
type of products the NRTL may test, with each type specified by the
applicable test standard; and (2) the recognized site(s) that has/have
the technical capability to perform the product-testing and product-
certification activities for test standards within the NRTL's scope.
Recognition is not a delegation or grant of government authority;
however, recognition enables employers to use products approved by the
NRTL to meet OSHA standards that require product testing and
certification.
    The agency processes an application by a NRTL for initial
recognition and for an expansion or renewal of this recognition,
following requirements in Appendix A, 29 CFR 1910.7. This appendix
requires that the agency publish two notices in the Federal Register in
processing an application. In the first notice, OSHA announces the
application and provides the preliminary finding. In the second notice,
the agency provides the final decision on the application. These
notices set forth the NRTL's scope of recognition or modifications of
that scope. OSHA maintains an informational web page for each NRTL,
including CSA, which details the NRTL's scope of recognition. These
pages are available from the OSHA website at http://www.osha.gov/dts/otpca/nrtl/index.html.
    CSA submitted an application dated September 24, 2021, (OSHA-2006-
0042-0027), to expand their recognition to include four additional test
standards. This notice covers the expansion to UL 121201 only. The
remaining standards in that application will be covered in a future
notice. The standard requested in the expansion application and
addressed here is a replacement standard for ISA 12.12.01, which is
currently included in CSA's NRTL Scope of Recognition. OSHA staff
performed detailed analysis of the application packet and reviewed
other pertinent information. OSHA did not perform any on-site reviews
in relation to this application.
    OSHA published the preliminary notice announcing CSA's expansion
application in the Federal Register on June 17, 2022 (87 FR 36544). The
agency requested comments by July 5, 2022, but it received no comments
in response to this notice. OSHA is now proceeding with this final
grant of expansion of CSA's NRTL recognition.
    To obtain or review copies of all public documents pertaining to
the CSA's application, go to http://www.regulations.gov or contact the
Docket Office, Occupational Safety and Health Administration, U.S.
Department of Labor. Docket No. OSHA-2006-0042 contains all materials
in the record concerning CSA's recognition. Please note: Due to the
COVID-19 pandemic, the Docket Office is closed to the public at this
time but can be contacted at<PHONE_NUMBER>.

II. Final Decision and Order

    OSHA staff examined CSA's expansion application, its capability to
meet the requirements of the test standard, and other pertinent
information. Based on its review of this evidence, OSHA finds that CSA
meets the requirements of 29 CFR 1910.7 for expansion of its
recognition, subject to the limitations and conditions listed in this
notice. OSHA, therefore, is proceeding with this final notice to grant
CSA's expanded scope of recognition. OSHA limits the expansion of CSA's
recognition to testing and certification of products for demonstration
of conformance to the test standard listed below in Table 1.

 Table 1--List of Appropriate Test Standard for Inclusion in CSA's NRTL
                          Scope of Recognition
------------------------------------------------------------------------
           Test standard                     Test standard title
------------------------------------------------------------------------
UL 121201.........................  Nonincendive Electrical Equipment
                                     for Use in Class I and Class II,
                                     Division 2 and Class III, Divisions
                                     1 and 2 Hazardous (Classified)
                                     Locations.
------------------------------------------------------------------------

    OSHA's recognition of any NRTL for a particular test standard is
limited to equipment or materials for which OSHA standards require
third-party testing and certification before using them in the
workplace. Consequently, if a test standard also covers any products
for which OSHA does not require such testing and certification, a
NRTL's scope of recognition does not include these products.

A. Conditions

    Recognition is contingent on continued compliance with 29 CFR
1910.7, including, but not limited to, abiding by the following
conditions of the recognition:
    1. CSA must inform OSHA as soon as possible, in writing, of any
change of ownership, facilities, or key personnel, and of any major
change in its operations as a NRTL, and provide details of the
change(s);
    2. CSA must meet all the terms of its recognition and comply with
all OSHA policies pertaining to this recognition; and
    3. CSA must continue to meet the requirements for recognition,
including all previously published conditions on CSA's scope of
recognition, in all areas for which it has recognition.
    Pursuant to the authority in 29 CFR 1910.7, OSHA hereby expands the
scope of recognition of CSA as a NRTL, subject to the limitations and
conditions specified above.

III. Authority and Signature

    James S. Frederick, Deputy Assistant Secretary of Labor for
Occupational Safety and Health, 200 Constitution Avenue NW, Washington,
DC 20210, authorized the preparation of this notice. Accordingly, the
agency is issuing this notice pursuant to Section 29 U.S.C. 657(g)(2),
Secretary of Labor's Order No. 8-2020 (85 FR 58393; Sept. 18, 2020),
and 29 CFR 1910.7.

    Signed at Washington, DC, on August 5, 2022.
James S. Frederick,
Deputy Assistant Secretary of Labor for Occupational Safety and Health.
[FR Doc. 2022-17880 Filed 8-18-22; 8:45 am]
BILLING CODE 4510-26-P


[Federal Register Volume 85, Number 6 (Thursday, January 9, 2020)]
[Rules and Regulations]
[Pages 1102-1103]
[FR Doc No: 2019-28273]

=======================================================================
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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Part 381

[Docket No. RM20-3-000]

Annual Update of Filing Fees

AGENCY: Federal Energy Regulatory Commission, Department of Energy.

ACTION: Final rule; annual update of Commission filing fees.

-----------------------------------------------------------------------

SUMMARY: In accordance with the Commission's regulations, the
Commission issues this update of its filing fees. This document
provides the yearly update using data in the Commission's Financial
System to calculate the new fees. The purpose of updating is to adjust
the fees on the basis of the Commission's costs for Fiscal Year 2019.

DATES: February 10, 2020.

ADDRESSES:

FOR FURTHER INFORMATION CONTACT: Maryam Khan, Office of the Executive
Director, Federal Energy Regulatory Commission, 999 North Capitol St.
NE, Room 22-02, Washington, DC 20426,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Document Availability: In addition to
publishing the full text of this document in the Federal Register, the
Commission provides all interested persons an opportunity to view and/
or print the contents of this document via the internet through FERC's
Home Page (http://www.ferc.gov) and in FERC's Public Reference Room
during normal business hours (8:30 a.m. to 5:00 p.m. Eastern time) at
888 First Street NE, Room 2A, Washington, DC 20426.
    From FERC's website on the internet, this information is available
in the eLibrary. The full text of this document is available on
eLibrary in PDF and Microsoft Word format for viewing, printing, and/or
downloading. To access this document in eLibrary, type the docket
number excluding the last three digits of this document in the docket
number field and follow other directions on the search page.
    User assistance is available for eLibrary and other aspects of
FERC's website during normal business hours. For assistance, contact
FERC Online Support at<EMAIL_ADDRESS>or toll free at (866)
208-3676, or for TTY, contact<PHONE_NUMBER>.
    The Federal Energy Regulatory Commission (Commission) is issuing
this document to update filing fees that the Commission assesses for
specific services and benefits provided to identifiable beneficiaries.
Pursuant to 18 CFR 381.104, the Commission is establishing updated fees
on the basis of the Commission's Fiscal Year 2019 costs. The adjusted
fees announced in this document are effective February 10, 2020. The
Commission has determined, with the concurrence of the Administrator of
the Office of Information and Regulatory Affairs of the Office of
Management and Budget, that this final rule is not a major rule within
the meaning of section 251 of Subtitle E of Small Business Regulatory
Enforcement Fairness Act, 5 U.S.C. 804(2). The Commission is submitting
this final rule to both houses of the United States Congress and to the
Comptroller General of the United States.
    The new fee schedule is as follows:

------------------------------------------------------------------------

------------------------------------------------------------------------
              Fees Applicable to the Natural Gas Policy Act
------------------------------------------------------------------------
1. Petitions for rate approval pursuant to 18 CFR                 14,960
 284.123(b)(2). (18 CFR 381.403)........................
------------------------------------------------------------------------
                  Fees Applicable to General Activities
------------------------------------------------------------------------
1. Petition for issuance of a declaratory order (except           30,060
 under Part I of the Federal Power Act). (18 CFR
 381.302(a))............................................
2. Review of a Department of Energy remedial order:
    Amount in controversy
        $0-9,999. (18 CFR 381.303(b))...................             100
        $10,000-29,999. (18 CFR 381.303(b)).............             600
        $30,000 or more. (18 CFR 381.303(a))............          43,880
3. Review of a Department of Energy denial of
 adjustment:
    Amount in controversy
        $0-9,999. (18 CFR 381.304(b))...................             100
        $10,000-29,999. (18 CFR 381.304(b)).............             600
        $30,000 or more. (18 CFR 381.304(a))............          23,010
4. Written legal interpretations by the Office of                  8,620
 General Counsel. (18 CFR 381.305(a))...................
------------------------------------------------------------------------
                Fees Applicable to Natural Gas Pipelines
------------------------------------------------------------------------
1. Pipeline certificate applications pursuant to 18 CFR          * 1,000
 284.224. (18 CFR 381.207(b))...........................
------------------------------------------------------------------------
        Fees Applicable to Cogenerators and Small Power Producers
------------------------------------------------------------------------
1. Certification of qualifying status as a small power            25,850
 production facility. (18 CFR 381.505(a))...............
2. Certification of qualifying status as a cogeneration           29,260
 facility. (18 CFR 381.505(a))..........................
------------------------------------------------------------------------
* This fee has not been changed.

List of Subjects in 18 CFR Part 381

    Electric power plants, Electric utilities, Natural gas, Reporting
and recordkeeping requirements.

    Issued: December 26, 2019.
Anton C. Porter,
Executive Director.
    In consideration of the foregoing, the Commission amends part 381,
chapter I, title 18, Code of Federal Regulations, as set forth below.

PART 381--FEES

0
1. The authority citation for part 381 continues to read as follows:

    Authority:  15 U.S.C. 717-717w; 16 U.S.C. 791-828c, 2601-2645;
31 U.S.C. 9701; 42

U.S.C. 7101-7352; 49 U.S.C. 60502; 49 App. U.S.C. 1-85.

Sec.  381.302   [Amended]

0
2. In Sec.  381.302, paragraph (a) is amended by removing ``$28,990''
and adding ``$30,060'' in its place.

Sec.  381.303   [Amended]

0
3. In Sec.  381.303, paragraph (a) is amended by removing ``$42,310''
and adding ``$43,880'' in its place.

Sec.  381.304   [Amended]

0
4. In Sec.  381.304, paragraph (a) is amended by removing ``$22,180''
and adding ``$23,010'' in its place.

Sec.  381.305   [Amended]

0
5. In Sec.  381.305, paragraph (a) is amended by removing ``$8,310''
and adding ``$8,620'' in its place.

Sec.  381.403   [Amended]

0
6. In Sec.  381.403 is amended by removing ``$14,430'' and adding
``$14,960'' in its place.

Sec.  381.505   [Amended]

0
7. In Sec.  381.505, paragraph (a) is amended by removing ``$24,920''
and adding ``$25,850'' in its place and by removing ``$28,210'' and
adding ``$29,260'' in its place.

[FR Doc. 2019-28273 Filed 1-8-20; 8:45 am]
 BILLING CODE 6717-01-P