[Federal Register Volume 81, Number 244 (Tuesday, December 20, 2016)]
[Notices]
[Pages 92891-92892]
[FR Doc No: 2016-30540]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 32393; 812-14606]

Minnesota Life Insurance Company, et al; Notice of Application

December 14, 2016.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of Application.

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SUMMARY: Notice of Application for an order pursuant to section 11(a)
of the Investment Company Act of 1940, as amended (the ``Act''),
approving the terms of a proposed offer of exchange. Applicants request
an order approving the terms of a proposed offer of exchange of a new
flexible variable universal life insurance policy for certain
outstanding flexible variable universal life insurance policies.

Applicants:  Minnesota Life Insurance Company (``Minnesota Life''), a
stock life insurance company organized under the laws of Minnesota,
Minnesota Life Variable Account (``Variable Life Account'') and
Minnesota Life Individual Variable Universal Life Account (``Individual
VUL Account,'' and together with the Variable Life Account, the
``Accounts''), each organized and registered under the Act as a unit
investment trust and each a ``separate account'' as defined in section
2(a)(37) of the Act, and Securian Financial Services, Inc. (``Securian
Financial''), a broker dealer registered under the Securities Exchange
Act of 1934 (collectively, the ``Applicants'').

DATES: Filing Dates: The application was filed on January 29, 2016 and
amended on September 7, 2016, and November 30, 2016.

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 January 9, 2017, and should be accompanied by proof of service
on the applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Pursuant to rule 0-5 under the Act, hearing
requests should state the nature of the writer's interest, any facts
bearing upon the desirability of a hearing on the matter, the reason
for the request, and the issues contested. Persons who wish to be
notified of a hearing may request notification by writing to the
Commission's Secretary.

ADDRESSES: Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE., Washington, DC 20549-1090; Applicants, 400 Robert Street
North, St. Paul, Minnesota 55101-2098.

FOR FURTHER INFORMATION CONTACT: Bruce R. MacNeil, Senior Counsel, at
(202) 551-6817, or Daniele Marchesani, Assistant Chief Counsel, at
(202) 551-6821 (Division of Investment Management, Chief Counsel's
Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or an applicant
using the Company name box, at http://www.sec.gov/search/search.htm or
by calling<PHONE_NUMBER>.

Summary of the Application

    1. Minnesota Life issues variable life insurance policies that are
made available through the Variable Life Account (the ``Old Policies'')
and the Individual VUL Account (the ``New Policy,'' together with the
Old Policies, the ``Policies''). The New Policy and the Old Policies
are each offered pursuant to a registration statement under the
Securities Act of 1933. Securian Financial serves as principal
underwriter for the Policies.
    2. The Old Policies are variable adjustable life insurance policies
that call for level scheduled premium payments for a specified time or
until the policy becomes paid up. The New Policy is a flexible premium
variable universal life insurance policy. A New Policy owner may elect
to pay a planned premium, and may change the amount and frequency of
such planned premium payments at any time. Applicants propose to offer
eligible owners of the Old Policies the opportunity to exchange their
Old Policy for the New Policy by means of an offer of exchange (the
``Exchange Offer'').\1\ The differences between the New Policy and the
Old Policies are described in detail in the application.
---------------------------------------------------------------------------

    \1\ Applicants will make the Exchange Offer available to
approximately 47,100 owners of Old Policies (i) who have held their
Old Policy for at least ten years, (ii) whose Old Policy was not
subject to a premium increase during the three years prior to the
date of the exchange, (iii) whose Old Policy has a current face
amount of at least $10,000, and (iv) whose insured age is 75 or
younger. Applicants state that the exchange is available only to Old
Policies that do not have any outstanding loans and those loans can
be repaid either in cash or by means of a partial surrender.
Applicants indicate that new evidence of insurability will not be
required as a condition of the exchange unless (i) the policy owner
requests a face amount increase; or (ii) to add a rider that
requires underwriting on the New Policy.
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    3. Applicants request that the Commission issue an order pursuant
to section 11(a) of the Act approving the terms of the Exchange Offer.
Any order approving the Exchange Offer would be subject to the terms
and conditions stated in the application.
    4. Applicants state that the Exchange Offer will remain open
indefinitely until terminated upon two months' notice. Applicants
further represent that the Exchange Offer will be made by providing
eligible owners of Old Policies with a prospectus for the New Policy,
accompanied by a letter explaining the offer and sales literature that
compares the two Policies (``Offering Communication''). Each Old Policy
owner who expresses an interest in the Exchange Offer will be informed
of new charges, differences in rates of charges, and differences in the
calculation and assessment of charges under the New Policy. The effect
on Old Policy owners of certain of these differences can only be
ascertained by personalized illustrations, which will be provided to an
Old Policy owner at the time the Exchange Offer is made.
    5. Applicants represent that no surrender charge will be deducted
upon the surrender of an Old Policy in connection with an exchange, and
no premium loads will be deducted from the proceeds of that surrender
when applied to the purchase of the New Policy as part of the exchange.
Upon acceptance of the Exchange Offer, a New Policy will be issued with
the same face amount as the Old Policy surrendered in the exchange, and
the cash value (of the Old Policy) will be applied without the
deduction of any charges, as the initial premium for the New Policy
that commences on the date of the exchange. Applicants state that each
New Policy issued in the exchange will provide a 30-day free look
period that commences on the date of the exchange.
    6. Applicants represent that the terms of the proposed Exchange
Offer do not present the abuses against which section 11 was intended
to protect. Because the Exchange Offer involves a unit investment
trust, Section 11(c) of the Act makes Section 11(a) inapplicable so
that the requested relief is necessary to make the Exchange Offer,
regardless of the basis of the exchange. As the Exchange Offer will be
based on the relative net asset values or unit values of the interests
being exchanged, however, it has not been proposed for the purpose of
exacting additional selling charges and profits from investors by
switching them from one security to another.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Brent J. Fields,
Secretary.
[FR Doc. 2016-30540 Filed 12-19-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Rules and Regulations]
[Page 66538]
[FR Doc No: C1-2016-22887]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R04-OAR-2016-0315; FRL-9952-72-Region 4]

Air Plan Approval; Georgia; Prong 4--2008 Ozone, 2010 NO2, SO2,
and 2012 PM2.5

Correction

    In rule document 2016-22887 beginning on page 65899 in the issue of
Monday, September 26, 2016, make the following correction:
    On page 65899, in the second column, under the DATES heading, in
the first through third lines of that paragraph, '' [insert date 30
days after date of publication in the Federal Register].'' should read
``October 26, 2016''.

[FR Doc. C1-2016-22887 Filed 9-27-16; 8:45 am]
 BILLING CODE 1301-00-D


[Federal Register: July 3, 2007 (Volume 72, Number 127)]
[Notices]
[Page 36442-36443]
[DOCID:fr03jy07-51]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL07-77-000]

R.E. Ginna Nuclear Power Plant, LLC v. Rochester Gas and Electric
Corporation; Notice of Complaint

June 26, 2007.
    Take notice that on June 25, 2007, R.E. Ginna Nuclear Power Plant,
LLC (Ginna) filed a formal complaint against Rochester Gas and Electric
Corporation (RGE), pursuant to section 206 and 306 of the Federal Power
Act and Rule 206 of the Rules of Practice and Procedure of the
Commission's Regulations, 18 CFR Sec. Sec.  385.206 and 306 (2006).
Ginna complains that RGE is violating its Interconnection Agreement, to
which Ginna and RGE are parties.
    Ginna certifies that copies of the complaint were served on the
contacts for RGE as listed on the Commission's list of Corporate
Officials.
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. The Respondent's
answer and all interventions, or protests must be filed on or before
the comment date.

The Respondent's answer, motions to intervene, and protests must be
served on the Complainants.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on July 16, 2007.

Kimberly D. Bose,
Secretary.
[FR Doc. E7-12801 Filed 7-2-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: August 21, 2007 (Volume 72, Number 161)]
[Notices]
[Page 46618-46620]
[DOCID:fr21au07-56]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings 1

August 14, 2007.
    Take notice that the Commission received the following electric
corporate filings:
    Docket Numbers: EC07-124-000.
    Applicants: J-POWER USA Generation, L.P.; Green Country Energy,
LLC.
    Description: J-Power USA Generation, LP and Green Country Energy,
LLC submit its Joint Application for Authorization to Transfer
Jurisdictional Facilities.
    Filed Date: 08/06/2007.
    Accession Number: 20070808-0158.
    Comment Date: 5 p.m. Eastern Time on Monday, August 27, 2007.
    Take notice that the Commission received the following electric
rate filings:
    Docket Numbers: ER93-3-006.
    Applicants: The United Illuminating Company.
    Description: The United Illuminating Company's request for
exemption from requirements applicable to Category 2 Seller as
discussed in Order 697 and FERC's implementing regulations.
    Filed Date: 08/08/2007.
    Accession Number: 20070813-0074.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 29, 2007.

    Docket Numbers: ER00-1026-015; ER99-2284-008; ER98-2185-013; ER99-
1773-008; ER99-1761-004; ER98-2184-013; ER01-1315-004; ER01-2401-010;
ER98-2186-014; ER00-33-010; ER05-442-002; ER98-4222-010; ER99-1228-006.
    Applicants: Indianapolis Power & Light Company; AEE2, LLC; AES
Alamitos, Inc.; AES Creative Resources, LP; EAS Eastern Energy LP; AES
Huntington Beach, LLC; AES Ironwood, LLC; AES Red Oak, LLC; AES Redondo
Beach, LLC; AES Placerita, Inc.; Condon Wind Power, LLC; Lake Benton
Power Partners, LLC; Storm Lake Power Partners II LLC.
    Description: AES Corp notifies FERC of a non-material change in
status from the facts relied upon by granting market-based rate
authority pursuant to Order 697.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0094.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER01-751-008; ER99-3197-004; ER99-3077-004; ER92-
521-002; ER04-1027-002; ER05-698-006.
    Applicants: BIV Generation Company, LLC.; Colorado Power Partners;
Hartwell Energy Limited Partnership; Mountain View Power Partners, LLC;
Rocky Mountain Power, Inc.; San Joaquin Cogen, LLC.
    Description: BIV Generation Co, LLC et al submits a notice of
change in status pursuant to requirements of Order 652.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0091.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER01-1807-026; ER01-2020-023.
    Applicants: Carolina Power & Light Company; Florida Power
Corporation.
    Description: Energy Imbalance Revenues Refund Report of Carolina
Power & Light Company.
    Filed Date: 08/10/2007.
    Accession Number: 20070810-5007.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER04-878-002; ER04-878-001.
    Applicants: Equus Power I, L.P.
    Description: Equus Power I, LP submits an amended triennial updated
market power analysis.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0151.

    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER06-451-024.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool Inc submits a status and
compliance report re its efforts relating to demand-side resources and
certain issues that exist.
    Filed Date: 08/01/2007.
    Accession Number: 20070808-0156.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 22, 2007.

    Docket Numbers: ER06-451-025; ER07-1255-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool, Inc submits this filing
providing for revisions to its Open Access Transmission Tariff pursuant
to Section 205 of the Federal Power Act, 16 U.S.C., Part 35 of FERC's
Regulations.
    Filed Date: 08/03/2007.
    Accession Number: 20070808-0057.
    Comment Date: 5 p.m. Eastern Time on Friday, August 24, 2007.

    Docket Numbers: ER07-643-002.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool, Inc submits revised versions of
the executed Meter Services Agreements that are consistent with the
requirements of Order 614.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0093.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-671-001.
    Applicants: Trigen-St. Louis Energy Corporation.
    Description: Compliance Filing pursuant to Commission's 7/13/07
Order.
    Filed Date: 08/13/2007.
    Accession Number: 20070810-5083.
    Comment Date: 5 p.m. Eastern Time on Tuesday, September 04, 2007.

    Docket Numbers: ER07-671-002.
    Applicants: Trigen-St. Louis Energy Corporation.
    Description: Trigen-St. Louis Energy Corp submits its Refund Report
in accordance with the Commission's 7/13/07 Order.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0092.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-812-001.
    Applicants: Pacific Gas and Electric Company.
    Description: Electric Refund Compliance Report of Pacific Gas &
Electric Company.
    Filed Date: 08/09/2007.
    Accession Number: 20070809-5037.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-909-001.
    Applicants: PJM Interconnection, LLC.
    Description: PJM Interconnection, LLC submits it response to FERC's
request for additional information that identified deficiencies in
their 5/18/07 filing.
    Filed Date: 08/08/2007.
    Accession Number: 20070809-0163.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 29, 2007.

    Docket Numbers: ER07-995-001.
    Applicants: New York Independent System Operator, Inc.
    Description: New York Independent System Operator, Inc revises its
6/4/07 request for waiver of certain of the ``WEQ004'' coordinate
interchange business practice standards.
    Filed Date: 08/08/2007.
    Accession Number: 20070813-0077.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 29, 2007.

    Docket Numbers: ER07-1023-001.
    Applicants: Baltimore Gas and Electric Company.
    Description: Baltimore Gas and Electric Co submits its Substitute
Second Revised Sheet 299 et al to FERC Electric Tariff, Sixth Revised
Volume 1.
    Filed Date: 08/06/2007.
    Accession Number: 20070813-0153.
    Comment Date: 5 p.m. Eastern Time on Monday, August 27, 2007.

    Docket Numbers: ER07-1097-001.
    Applicants: New England Power Pool Participants Committee.
    Description: The New England Power Pool Participants Committee
amends its 6/29/07 Membership Filing.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0152.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER07-1098-001.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool, Inc submits Exhibit I of the
Service Agreement with a corrected signature page.
    Filed Date: 08/09/2007.
    Accession Number: 20070810-0001.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1161-001.
    Applicants: Public Power & Utility, Inc.
    Description: Public Power & Utility, Inc submits a petition for
acceptance of FERC Electric Tariff, Original Volume 1.
    Filed Date: 08/08/2007.
    Accession Number: 20070813-0075.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 29, 2007.

    Docket Numbers: ER07-1180-001.
    Applicants: California Independent System Operator Corporation.
    Description: California Independent System Operator Corp submits an
errata to its 7/20/07 filing of a petition to waive sanctions for
violation of Section <IP_ADDRESS> of its Tariff through 10/18/06.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0082.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1256-000.
    Applicants: Kansas Gas and Electric Company.
    Description: Kansas Gas and Electric Co submits a revised
Generating Municipal Electric Service Agreement with the City of
Chanute, Kansas under ER07-1256.
    Filed Date: 08/08/2007.
    Accession Number: 20070813-0078.
    Comment Date: 5 p.m. Eastern Time on Wednesday, August 29, 2007.

    Docket Numbers: ER07-1257-000.
    Applicants: California Independent System Operator Corporation.
    Description: California Independent System Operator Corp submits
its modifications to its market redesign and technology upgrade tariff
and supplemented this filing on 8/10/07.
    Filed Date: 08/03/2007; 08/10/07.
    Accession Number: 20070810-0036; 20070813-0172.
    Comment Date: 5 p.m. Eastern Time on Friday, August 24, 2007.

    Docket Numbers: ER07-1258-000.
    Applicants: Rocky Mountain Power, LLC.
    Description: Rocky Mountain Power, LLC submits a Notice of
Succession.
    Filed Date: 08/09/2007.
    Accession Number: 20070810-0002.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1259-000.
    Applicants: San Joaquin Cogen, LLC.
    Description: San Joaquin Cogen, LLC submits a Notice of Succession.
    Filed Date: 08/09/2007.
    Accession Number: 20070810-0003.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1260-000.
    Applicants: American Electric Power Service Corp.
    Description: Ohio Power Co submits a Notice of Cancellation of
Original Service Agreement 462 under FERC Electric Tariff Second
Revised Volume 6, agreement with Northwest Fuel Development, Inc.
    Filed Date: 08/07/2007.

    Accession Number: 20070813-0087.
    Comment Date: 5 p.m. Eastern Time on Tuesday, August 28, 2007.

    Docket Numbers: ER07-1262-000.
    Applicants: American Electric Power Service Corp.
    Description: AEP Operating Companies submits an Interconnection and
Local Delivery Service Agreement 1675 with the City of Jackson, Ohio.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0088.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1263-000.
    Applicants: High Sierra Power Marketing, LLC.
    Description: Sierra Power Asset Marketing, LLC submits an
application for acceptance of their proposed market based rate tariff,
FERC Electric Tariff, Original Volume 1.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0007.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1264-000.
    Applicants: Sierra Power Asset Marketing, LLC.
    Description: Sierra Power Asset Marketing, LLC submits an
application for acceptance of their proposed market based rate tariff,
FERC Electric Tariff, Original Volume 1.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0006.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1265-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool, Inc submits an executed revised
service agreement for Network Integration Transmission Service with
Midwest Energy, Inc.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0005.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1266-000.
    Applicants: Southwest Power Pool, Inc.
    Description: Southwest Power Pool, Inc submits an executed revised
service agreement for Network Integration Transmission Service with
Midwest Energy, Inc.
    Filed Date: 08/09/2007.
    Accession Number: 20070813-0004.
    Comment Date: 5 p.m. Eastern Time on Thursday, August 30, 2007.

    Docket Numbers: ER07-1267-000.
    Applicants: Arizona Public Service Company.
    Description: Arizona Public Service Company submits a contract
affecting transmission, an executed Transmission Operating and
Maintenance Agreement with Southwest Transmission Coop, Inc.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0003.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER07-1268-000.
    Applicants: PacifiCorp.
    Description: PacifiCorp submits Supplement 1 to the 1998 Facilities
Agreement, executed 8/17/06 and Supplement 2 to the 1998 Facilities
Agreement, executed 5/21/07.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0002.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER07-1269-000.
    Applicants: PacifiCorp.
    Description: PacifiCorp submits First Revised Sheet 355 et al, FERC
Electric Tariff, 7th Revised Volume 11 to its Open Access Transmission
Tariff, reflecting updated load ratio share figures for 8/1/07-7/31/08.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0001.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: ER07-1270-000.
    Applicants: Nevada Power Company.
    Description: Nevada Power Co submits Rate Schedule 106--Power
Purchase Agreement with Sierra Pacific Power Co.
    Filed Date: 08/10/2007.
    Accession Number: 20070813-0156.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Take notice that the Commission received the following open access
transmission tariff filings:
    Docket Numbers: OA07-2-001.
    Applicants: Sierra Pacific Resources Operating Company.
    Description: Sierra Pacific Resources Operating Companies Order No.
890 OATT Imbalance Penalty Revenues Distribution Compliance Filing.
    Filed Date: 08/10/2007.
    Accession Number: 20070810-5042.
    Comment Date: 5 p.m. Eastern Time on Friday, August 31, 2007.

    Docket Numbers: OA07-5-001.
    Applicants: Avista Corporation.
    Description: Avista Corporation Compliance Filing Re July 13, 2007
Order in Docket.
    Filed Date: 07/20/2007.
    Accession Number: 20070720-5038.
    Comment Date: 5 p.m. Eastern Time on Friday, August 24, 2007.
    Any person desiring to intervene or to protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214) on or before 5 p.m. Eastern time on the specified comment
date. It is not necessary to separately intervene again in a subdocket
related to a compliance filing if you have previously intervened in the
same docket. Protests will be considered by the Commission in
determining the appropriate action to be taken, but will not serve to
make protestants parties to the proceeding. Anyone filing a motion to
intervene or protest must serve a copy of that document on the
Applicant. In reference to filings initiating a new proceeding,
interventions or protests submitted on or before the comment deadline
need not be served on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov.
 To facilitate electronic service, persons with Internet

access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First St., NE., Washington, DC 20426.
    The filings in the above proceedings are accessible in the
Commission's eLibrary system by clicking on the appropriate link in the
above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive e-mail notification
when a document is added to a subscribed docket(s). For assistance with
any FERC Online service, please e-mail<EMAIL_ADDRESS>or
call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

Nathaniel J. Davis, Sr.,
Acting Deputy Secretary.
 [FR Doc. E7-16335 Filed 8-20-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 209 (Thursday, October 29, 2015)]
[Notices]
[Pages 66594-66600]
[FR Doc No: 2015-27515]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76245; File No. SR-NASDAQ-2015-124]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing of Proposed Rule Change Relating to the Listing and
Trading of the Shares of the Active Alts Contrarian ETF of ETFis Series
Trust I

October 23, 2015.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on October 19, 2015, The NASDAQ Stock Market LLC (``Nasdaq'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in in Items I,
II, and III below, which Items have been prepared by Nasdaq. 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\ 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

    Nasdaq proposes to list and trade the shares of the Active Alts
Contrarian ETF (the ``Fund'') of ETFis Series Trust I (the ``Trust'')
under Nasdaq Rule 5735 (``Managed Fund Shares'').\3\ The shares of the
Fund are referred to herein as the ``Shares.''
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    \3\ The Commission approved Nasdaq Rule 5735 in Securities
Exchange Act Release No. 57962 (June 13, 2008), 73 FR 35175 (June
20, 2008) (SR-NASDAQ-2008-039). The Exchange believes the proposed
rule change raises no significant issues not previously addressed in
prior Commission orders.
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    The text of the proposed rule change is available at http://nasdaq.cchwallstreet.com/, at Nasdaq's principal office, and at the
Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, Nasdaq included statements
concerning the purpose of, and basis for, the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. Nasdaq has prepared summaries, set forth in Sections A,
B, and C below, of the most significant aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to list and trade the Shares of the Fund
under Nasdaq Rule 5735, which governs the listing and trading of
Managed Fund Shares \4\ on the Exchange. The Fund will be an actively-
managed exchange-traded fund (``ETF''). The Shares will be offered by
the Trust, which was established as a Delaware series trust on
September 20, 2012.\5\ The Trust is registered with the Commission as
an investment company and has filed a registration statement on Form N-
1A (``Registration Statement'') with the Commission.\6\ The Fund is a
series of the Trust.
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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, as amended (15 U.S.C. 80a-1) (the ``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 Index Fund
Shares, listed and traded on the Exchange under Nasdaq Rule 5705,
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 has issued an order, upon which the Trust may
rely (the ``Exemptive Order''), granting certain exemptive relief to
the investment adviser to the Fund under the 1940 Act. See
Investment Company Act Release No. 30607 (July 23, 2013) (File No.
812-14080).
    \6\ See Post-Effective Amendment No. 70 to Registration
Statement on Form N-1A for the Trust, dated October 16, 2015 (File
Nos. 333-187668 and 811-22819). The description of the Fund and the
Shares contained herein is based, in part, on information in the
Registration Statement.
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Description of the Shares and the Fund
    Etfis Capital LLC is the investment adviser (``Adviser'') to the
Fund. Active Alts Inc. is the investment sub-adviser to the Fund (the
``Sub-Adviser''). The Sub-Adviser is responsible for daily portfolio
management and all investment decisions for the Fund. ETF Distributors
LLC (the ``Distributor'') will be the principal underwriter and
distributor of the Fund's Shares. The Bank of New York Mellon
Corporation (``BNY'') will act as the administrator, accounting agent,
custodian and transfer agent to the Fund.
    Paragraph (g) of Rule 5735 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.\7\ In addition, paragraph (g) 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. Rule 5735(g) is similar to Nasdaq Rule
5705(b)(5)(A)(i); however, paragraph (g) 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, although it is affiliated with the
Distributor, a broker-dealer. The Adviser 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 Sub-Adviser is not a broker-dealer and is not affiliated with a
broker-dealer. In the event (a) the Adviser or the Sub-Adviser becomes
newly affiliated with a broker-dealer \8\ or registers as a broker-
dealer, or (b) any new adviser or new sub-adviser is a registered
broker-dealer or is or becomes affiliated with a broker-dealer, it will
implement a fire wall with respect to its relevant personnel and/or
such broker-dealer affiliate, as applicable, regarding access to
information concerning the composition and/or changes to the Fund
portfolio and will be subject to procedures designed to prevent the use
and dissemination of material nonpublic 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, the Sub-Adviser and each such
party's 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 applicable federal securities laws as defined in
Rule 204A-1(e)(4). Accordingly, procedures designed to prevent the
communication and misuse of nonpublic 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.
    \8\ In the case of the Adviser, which is already affiliated with
a broker-dealer and has implemented a fire wall with respect to such
affiliated broker-dealer, this refers to a new affiliation with an
additional broker-dealer.
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Investment Objective
    The Fund's investment objective is to seek current income and
capital appreciation. The Fund will seek to achieve its investment
objective by primarily investing in U.S. exchange-traded equity
securities (U.S. exchange-traded equity securities are referred to
herein as ``Equities'' \9\) that the Sub-Adviser believes may be
subject to a ``short squeeze'' (as described below). The Fund may also
lend portfolio securities that the Sub-Adviser believes may be subject
to a short squeeze to short sellers and other market participants for a
premium recognized as income. The Fund is an actively managed ETF and
thus does not seek to replicate the performance of any index. Instead,
the Fund uses an active investment strategy in an effort to meet its
investment objective.\10\
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    \9\ As used herein, the term ``Equities'' includes American
Depository Receipts, but does not include shares of ETFs or closed-
end investment companies that are U.S. exchange-traded.
    \10\ All Equities traded by the Fund will be listed on a U.S.
exchange that is a member of the Intermarket Surveillance Group
(``ISG'') or a party to a comprehensive surveillance sharing
agreement with the Exchange.
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Principal Investments
    In selecting securities for the Fund's portfolio, the Sub-Adviser
will seek to identify Equities that it believes have a higher potential
for capital appreciation as a result of a short squeeze. A ``short
squeeze'' occurs when investors who have sold short shares of an equity
security seek to rapidly cover or buy back the short position due to
actual or perceived appreciation in the security, which may occur
because of positive news or events related to the company, its market
sector or the market generally. Often, the additional buying momentum
created by short sellers covering their short positions escalates the
increase in the price of the shares. The Fund will not be limited with
respect to its investments in any sector or industry, but the Fund will
limit investments in a single issuer to no more than five percent (5%)
of the total assets of the Fund and to no more than five percent (5%)
of the security's public float. In addition, the Fund will limit its
Equities investments to companies with a market capitalization of $250
million or more.
    The Sub-Adviser's process for identifying short squeeze
opportunities involves analysis of both fundamental factors (e.g.,
quality of earnings, fundamental stability of business, etc.) and
technical factors (e.g., price and volume characteristics, relative
strength, etc.). Using this analysis, the Sub-Adviser seeks to identify
securities where, in the opinion of the Sub-Adviser, short interest is
significant, is increasing or is expected to increase, but is
unjustified based on the Sub-Adviser's analysis.
    To the extent that the Sub-Adviser has not identified Equities
suitable for investment, the Fund principally will be invested in cash
or money market instruments,\11\ and to the extent permitted by
applicable law and the Fund's investment restrictions, the Fund may
invest in shares of money-market mutual funds. At times the Fund's
investment in such investments may be significant.
---------------------------------------------------------------------------

    \11\ The following is a list of the money market instruments in
which the Fund may invest: Short-term (less than one-year) notes
issued by (i) the U.S. government, (ii) an agency of the U.S.
government, or (iii) a U.S. corporation.
---------------------------------------------------------------------------

    The Fund may also determine to lend out portfolio securities that
the Sub-Adviser believes to be strong candidates for a short squeeze to
short sellers and other market participants for a premium recognized as
income.
    As a result of its trading strategy, the Fund expects to engage in
frequent portfolio transactions that will likely result in higher
portfolio turnover than many investment companies. Portfolio turnover
is a ratio that indicates how often the securities in an investment
company's portfolio change during a year. A higher portfolio turnover
rate indicates a greater number of changes, and a lower portfolio
turnover rate indicates a smaller number of changes. Under normal
circumstances, the anticipated annual portfolio turnover rate for the
Fund is expected to be greater than 100%.
Other Investments
    The Fund may invest in other types of investments, as set forth in
this section. The Fund may invest in any type of ETF that is U.S.
exchange-traded, including index based ETFs, sector based ETFs, and
fixed-income ETFs--but will not invest in leveraged ETFs. Due to legal
limitations, the Fund will be prevented from purchasing more than 3% of
an ETF's outstanding shares unless: (i) The ETF or the Fund has
received an order for exemptive relief from the 3% limitation from the
Commission that is applicable to the Fund; and (ii) the ETF and the
Fund take appropriate steps to comply with any conditions in such
order. The Fund

also may invest in closed-end investment companies that are U.S.
exchange-traded.
    The Fund may not invest more than 25% of the value of its total
assets in securities of issuers in any particular industry.\12\ The
Fund's investments (including investments in ETFs) will not be utilized
to seek to achieve a leveraged return on the Fund's net assets. The
Fund will not invest in futures contracts, will not invest in options,
will not invest in swaps, and will not invest in other derivative
instruments.
---------------------------------------------------------------------------

    \12\ 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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The Shares
    The Fund will issue and redeem Shares only in Creation Units,
through the Distributor, without a sales load (but subject to
transaction fees), at the net asset value (``NAV'') next determined
after receipt of an order in proper form, on a continuous basis every
day except weekends and specified holidays, pursuant to the terms of
the agreement executed with each Authorized Participant (as defined
below). The NAV of the Fund will be determined once each business day,
normally as of the close of regular trading on the NYSE, generally,
4:00 p.m. Eastern time.\13\ Creation Unit sizes will be 25,000 Shares
per Creation Unit.
---------------------------------------------------------------------------

    \13\ NAV per Share will be calculated by dividing the Fund's net
assets by the number of Fund Shares outstanding. For more
information regarding the valuation of Fund investments in
calculating the Fund's NAV, see ``Net Asset Value'' below.
---------------------------------------------------------------------------

    The consideration for purchase of a Creation Unit will consist of
either (i) an in-kind deposit of a designated portfolio of securities
(the ``Deposit Securities'') for each Creation Unit constituting a
substantial replication, or a representation, of the securities
included in the Fund's portfolio and an amount of cash (the ``Cash
Component'') computed as described below or (ii) cash totaling the NAV
of the Creation Unit (``Deposit Cash''). The ``Cash Component'' will be
an amount equal to the difference between the NAV of the shares (per
Creation Unit) and the market value of the Deposit Securities. The Fund
may also effect a portion of an otherwise in-kind creation or
redemption for cash, in accordance with the Exemptive Order.
    As applicable, (i) the Deposit Securities and the Cash Component,
together, or (ii) the Deposit Cash, will constitute the ``Fund
Deposit,'' which will represent the minimum initial and subsequent
investment amount for a Creation Unit of the Fund. If the Cash
Component is a positive number (i.e., the NAV per Creation Unit exceeds
the market value of the Deposit Securities), the Cash Component will be
such positive amount. If the Cash Component is a negative number (i.e.,
the NAV per Creation Unit is less than the market value of the Deposit
Securities), the Cash Component will be such negative amount and the
creator will be entitled to receive cash from the Fund in an amount
equal to the Cash Component. The Cash Component will serve the function
of compensating for any difference between the NAV per Creation Unit
and the market value of the Deposit Securities.
    To be eligible to place orders with respect to creations and
redemptions of Creation Units, an entity must be (i) a ``Participating
Party,'' i.e., a broker-dealer or other participant in the clearing
process through the Continuous Net Settlement System of the National
Securities Clearing Corporation (``NSCC'') or (ii) a Depository Trust
Company (``DTC'') Participant (a ``DTC Participant''). In addition,
each Participating Party or DTC Participant (each, an ``Authorized
Participant'') must execute an agreement that has been agreed to by the
Distributor and the Fund Administrator, BNY, with respect to purchases
and redemptions of Creation Units.
    BNY, through the NSCC, will make available on each business day,
immediately prior to the opening of business on the Exchange's Regular
Market Session (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, subject
to any relevant adjustments, will be applicable in order to effect
purchases of Creation Units of the Fund until such time as the next
announced composition of the Deposit Securities is made available.
    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 BNY and only on a business day. With respect to the Fund,
BNY, through the NSCC, will make available immediately prior to the
opening of business on the Exchange (9:30 a.m. Eastern time) on each
business day, the list of the names and share quantities of the Fund's
portfolio securities (``Fund Securities'') that will be applicable
(subject to possible amendment or correction) to redemption requests
received in proper form on that day. Fund Securities received on
redemption may not be identical to Deposit Securities.
    Unless cash redemptions are available or specified for the Fund,
redemption proceeds for a Creation Unit will consist of Fund Securities
as announced by BNY on the business day of the request for redemption
received in proper form plus 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 (the ``Cash Redemption Amount''), less a fixed redemption
transaction fee and any applicable additional variable charge as set
forth in the Registration Statement. In the event that the Fund
Securities have a value greater than the NAV of the Shares, a
compensating cash payment equal to the differential will be required to
be made by or through an Authorized Participant by the redeeming
shareholder. Notwithstanding the foregoing, at the Trust's discretion,
an Authorized Participant may receive the corresponding cash value of
the securities in lieu of one or more Fund Securities.
    The creation order and redemption order cut off time for the Fund
is expected to be one hour prior to the close of the regular trading
session on the Exchange (i.e., typically 3:00 p.m. Eastern time). In
the case of custom orders, the Fund may require orders for Creation
Units to be placed earlier in the day.
Net Asset Value
    The NAV per Share for the Fund will be computed by dividing the
value of the net assets of the Fund (i.e., the value of its total
assets less total liabilities) by the total number of Shares
outstanding, rounded to the nearest cent. Expenses and fees, including
the management fees, will be accrued daily and taken into account for
purposes of determining NAV. The NAV of the Fund will be calculated by
BNY and determined at the close of regular trading on the NYSE
(ordinarily 4:00 p.m. Eastern time) on each day that such exchange is
open. In calculating the Fund's NAV per Share, investments will
generally be valued by using market valuations. A market valuation
generally means a valuation (i) obtained from an exchange, a pricing
service, or a major market maker (or dealer) or (ii) based on a price
quotation or other equivalent indication of value supplied by an

exchange, a pricing service, or a major market maker (or dealer).\14\
---------------------------------------------------------------------------

    \14\ Under normal market conditions, the Fund will obtain
pricing information on all of its assets from these sources.
---------------------------------------------------------------------------

    Equities and any other exchange traded securities (such as shares
of ETFs or closed-end investment companies) will be valued at the
official closing price on their principal exchange, or lacking any
current reported sale at the time of valuation, at the mean between the
most recent bid and asked quotations on the principal exchange.
Portfolio securities traded on more than one securities exchange will
be valued at the last sale price or official closing price, as
applicable, on the business day as of which such value is being
determined at the close of the exchange representing the principal
market for such securities. Shares of money market mutual funds will be
valued at their NAV. Money market instruments will be valued at the
mean between the most recent available bid and asked quotations
provided by parties that make a market in the instrument. If recent bid
and asked quotations are not available, these securities will be valued
in accordance with the Fund's fair valuation procedures. Money market
instruments with maturities of less than 60 days will be valued at
amortized cost.
    Notwithstanding the foregoing, in determining the value of any
security or asset, the Fund may use a valuation provided by a pricing
vendor employed by the Trust and approved by the Trust Board. The
pricing vendor may base such valuations upon dealer quotes, by
analyzing the listed market, by utilizing matrix pricing, by analyzing
market correlations and pricing and/or employing sensitivity analysis.
    The Adviser may use various pricing services, or discontinue the
use of any pricing service, as approved by the Trust Board from time to
time. A price obtained from a pricing service based on such pricing
service's valuation matrix may be considered a market valuation.
    In the event that current market valuations are not readily
available or such valuations do not reflect current market value, the
Trust's procedures require the Adviser's Pricing Committee to determine
a security's fair value in accordance with the Fund's Fair Value
Pricing Procedures, which are approved by the Trust Board and
consistent with the 1940 Act.\15\ In determining such value the
Adviser's Pricing Committee may consider, among other things, (i) price
comparisons among multiple sources, (ii) a review of corporate actions
and news events, and (iii) a review of relevant financial indicators.
In these cases, the Fund's NAV may reflect certain portfolio
securities' fair values rather than their market prices. Fair value
pricing involves subjective judgments and it is possible that the fair
value determination for a security is materially different than the
value that could be realized upon the sale of the security.
---------------------------------------------------------------------------

    \15\ The Valuation Committee of the Trust Board will be
responsible for the oversight of the pricing procedures of the Fund
and the valuation of the Fund's portfolio. The Valuation Committee
has delegated day-to-day pricing responsibilities to the Adviser's
Pricing Committee, which will be composed of officers of the
Adviser. The Pricing Committee will be responsible for the valuation
and revaluation of any portfolio investments for which market
quotations or prices are not readily available. The Trust and the
Adviser have implemented procedures designed to prevent the use and
dissemination of material, nonpublic information regarding valuation
and revaluation of any portfolio investments.
---------------------------------------------------------------------------

Availability of Information
    The Fund's Web site, ActiveAlts.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 Web site
will include additional quantitative information updated on a daily
basis, including, for the Fund: (1) The prior business day's reported
NAV, mid-point of the bid/ask spread at the time of calculation of such
NAV (the ``Bid/Ask Price''),\16\ and a calculation of the premium and
discount of the Bid/Ask Price against the NAV; (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; and (3) daily trading
volume. On each business day, before commencement of trading in Shares
in the Regular Market Session \17\ on the Exchange, the Trust will
disclose on its Web site the identities and quantities of the portfolio
of securities and other assets (the ``Disclosed Portfolio'') held by
the Fund that will form the basis for the Fund's calculation of NAV at
the end of the business day.\18\
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    \16\ The Bid/Ask Price of the Fund will be determined using the
midpoint of the highest bid and the lowest offer on the Exchange as
of the time of calculation of such Fund's NAV. The records relating
to Bid/Ask Prices will be retained by the Fund and its service
providers.
    \17\ See Nasdaq Rule 4120(b)(4) (describing the three trading
sessions on the Exchange: (1) Pre-Market Session from 7 a.m. to 9:30
a.m. Eastern time; (2) Regular Market Session from 9:30 a.m. to 4
p.m. or 4:15 p.m. Eastern time; and (3) Post-Market Session from 4
p.m. or 4:15 p.m. to 8 p.m. Eastern time).
    \18\ Under accounting procedures to be 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'').
Notwithstanding the foregoing, portfolio trades that are executed
prior to the opening of the Exchange on any business day may be
booked and reflected in NAV on such business day. 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 and other asset of the Fund the following information on the
Fund's Web site (if applicable): Name, ticker symbol, CUSIP number or
other identifier, if any; type of holding (such as ``common stock'',
``note'', ``mutual fund''); quantity held (as measured by, for example,
number of shares, contracts or units); maturity date, if any; coupon
rate, if any; effective date, if any; market value of the holding; and
the percentage weighting of the holdings in the Fund's portfolio. The
Web site information will be publicly available at no charge.
    In addition, for the Fund, an estimated value, defined in Rule 5735
as the ``Intraday Indicative Value,'' that reflects an estimated
intraday value of the Fund's portfolio, will be disseminated. Moreover,
the Intraday Indicative Value, available on the NASDAQ OMX Information
LLC proprietary index data service,\19\ will be based upon the current
value for the components of the Disclosed Portfolio and will be updated
and widely disseminated and broadly displayed at least every 15 seconds
during the Regular Market Session. In addition, during hours when the
local markets for foreign securities in the Fund's portfolio are
closed, the Intraday Indicative Value will be updated at least every 15
seconds during the Regular Market Session to reflect currency exchange
fluctuations.
---------------------------------------------------------------------------

    \19\ Currently, the NASDAQ OMX Global Index Data Service
(``GIDS'') is the NASDAQ OMX global index data feed service,
offering real-time updates, daily summary messages, and access to
widely followed indexes and Intraday Indicative Values for ETFs.
GIDS provides investment professionals with the daily information
needed to track or trade NASDAQ OMX indexes, listed ETFs, or third-
party partner indexes and ETFs.
---------------------------------------------------------------------------

    The dissemination of the Intraday 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 to provide a
close estimate of that value throughout the trading day.
    Investors will also be able to obtain the Fund's Statement of
Additional Information (``SAI''), the Fund's Shareholder Reports, and
its Form N-CSR and Form N-SAR, filed twice a year. The Fund's SAI and
Shareholder Reports will be available from the Fund free upon request,
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.
    Intra-day, executable price quotations of the Equities, any other
exchange-traded securities, and money market instruments and money-
market mutual funds, held by the Fund are available from major broker-
dealer firms or on the exchanges on which they are traded, if
applicable. The foregoing intra-day price information is available
through subscription services, such as Bloomberg and Thomson Reuters,
which can be accessed by authorized participants and other investors.
The previous day's closing price and trading volume information for the
Equities and any other exchange-traded securities held by the Fund will
be published daily in the financial section of newspapers. Quotation
and last sale information for the Equities and any other exchange-
traded securities held by the Fund will be available via UTP Level 1,
as well as Nasdaq proprietary quote and trade services.
    Information regarding market price and volume of the Shares is and
will be continually available on a real-time basis throughout the day
on brokers' computer screens and other electronic services. 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 UTP Level 1, as well as Nasdaq proprietary quote and trade
services.
Initial and Continued Listing
    The Shares will be subject to Rule 5735, which sets forth the
initial and continued listing criteria applicable to Managed Fund
Shares. The Exchange represents that, for initial and/or continued
listing, the Fund must be in compliance with Rule 10A-3 \20\ under the
Act. 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
will be made available to all market participants at the same time.
---------------------------------------------------------------------------

    \20\ See 17 CFR 240.10A-3.
---------------------------------------------------------------------------

Trading Halts and Trading Pauses
    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. Nasdaq will halt or pause trading in
the Shares under the conditions specified in Nasdaq Rules 4120 and
4121, including the trading pauses under Nasdaq Rules 4120(a)(11) and
(12). Trading 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 and/or the financial instruments
constituting 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 also will be
subject to Rule 5735(d)(2)(D), which sets forth circumstances under
which Shares of the Fund may be halted.
Trading Rules
    Nasdaq deems the Shares to be equity securities, thus rendering
trading in the Shares subject to Nasdaq's existing rules governing the
trading of equity securities. Nasdaq will allow trading in the Shares
from 7:00 a.m. until 8:00 p.m. Eastern time. The Exchange has
appropriate rules to facilitate transactions in the Shares during all
trading sessions. As provided in Nasdaq Rule 5735(b)(3), the minimum
price variation for quoting and entry of orders in Managed Fund Shares
traded on the Exchange is $0.01.
Surveillance
    The Exchange represents that trading in the Shares will be subject
to the existing trading surveillances, administered by both Nasdaq and
also 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.\21\ 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.
---------------------------------------------------------------------------

    \21\ 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. In addition,
the Exchange may obtain information from the Trade Reporting and
Compliance Engine (``TRACE''), which is the FINRA-developed vehicle
that facilitates mandatory reporting of over-the-counter secondary
market transactions in eligible fixed income securities.\22\
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    \22\ All broker/dealers who are FINRA member firms have an
obligation to report transactions in corporate bonds to TRACE.
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    FINRA, on behalf of the Exchange, will communicate as needed
regarding trading in the Shares, Equities, or other exchange-traded
securities with other markets and other entities that are Intermarket
Surveillance Group (``ISG'') members, and FINRA, on behalf of the
Exchange, may obtain trading information regarding trading in the
Shares, Equities, or other exchange-traded securities from such markets
and other entities. In addition, the Exchange may obtain information
regarding trading in the Shares, Equities, or other exchange-traded
securities from markets and other entities that are members of ISG or
with which the Exchange has in place a comprehensive surveillance
sharing agreement.\23\ FINRA, on behalf of the Exchange, is able to
access, as needed, trade information for certain money market
instruments held by the Fund reported to FINRA's TRACE.
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    \23\ For a list of the current members of ISG, see
www.isgportal.org.
---------------------------------------------------------------------------

    All Equities, and any shares of ETFs or closed-end investment
companies, held by the Fund will be listed on a U.S. exchange that is a
member of the ISG or a party to a comprehensive surveillance sharing
agreement with the Exchange. In addition, the Exchange also has a
general policy prohibiting the distribution of material, nonpublic
information by its employees.
Information Circular
    Prior to the commencement of trading, the Exchange will inform its
members in an Information Circular of the special characteristics and
risks associated with trading the Shares. Specifically, the Information
Circular will discuss the following: (1) The procedures for purchases
and redemptions of Shares in Creation Units (and that Shares are not
individually redeemable); (2) Nasdaq Rule 2111A, which imposes
suitability obligations on Nasdaq members with respect to recommending
transactions in the Shares to customers; (3) how and by whom
information regarding the Intraday Indicative Value and the Disclosed
Portfolio is disseminated; (4) the risks involved in trading the Shares
during the Pre-Market and Post-Market Sessions when an updated Intraday
Indicative Value will not be calculated or publicly disseminated; (5)
the requirement that members 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 Information Circular will advise members, prior to
the commencement of trading, of the prospectus delivery requirements
applicable to the Fund. Members purchasing Shares from the Fund for
resale to investors will deliver a prospectus to such investors. The
Information Circular will also discuss any exemptive, no-action and
interpretive relief granted by the Commission from any rules under the
Act.
    Additionally, the Information Circular will reference that the Fund
is subject to various fees and expenses described in the Registration
Statement. The Information Circular will also disclose the trading
hours of the Shares of the Fund and the applicable NAV Calculation Time
for the Shares. The Information Circular will disclose that information
about the Shares of the Fund will be publicly available on the Fund's
Web site.
2. Statutory Basis
    Nasdaq believes that the proposal is consistent with Section 6(b)
of the Act \24\ in general and Section 6(b)(5) of the Act \25\ in
particular in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
---------------------------------------------------------------------------

    \24\ 15 U.S.C. 78f.
    \25\ 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 Nasdaq Rule 5735. The
Exchange believes that its surveillance procedures are adequate to
properly monitor the trading of the Shares on Nasdaq during all trading
sessions and to deter and detect violations of Exchange rules and the
applicable federal securities laws. The Adviser is affiliated with a
broker-dealer and has implemented a ``fire wall'' with respect to such
broker-dealer regarding access to information concerning the
composition and/or changes to the Fund's portfolio. In addition, as
noted above, investors will have ready access to information regarding
the Fund's holdings, the Intraday Indicative Value, the Disclosed
Portfolio, and quotation and last sale information for the Shares. The
Exchange 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.
    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 is publicly available regarding the Fund and the Shares,
thereby promoting market transparency. All Equities, and any shares of
ETFs or exchange-traded investment companies, traded by the Fund will
be listed on a U.S. exchange that is a member of the ISG or a party to
a comprehensive surveillance sharing agreement with the Exchange. The
Fund's portfolio holdings will be disclosed on its Web site daily after
the close of trading on the Exchange and prior to the opening of
trading on the Exchange the following day. Moreover, the Intraday
Indicative Value, available on the NASDAQ OMX Information LLC
proprietary index data service will be widely disseminated and broadly
displayed at least every 15 seconds during the Regular Market Session.
On each business day, before commencement of trading in Shares in the
Regular Market 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 is and 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 for the Shares will be available via UTP
Level 1, as well as Nasdaq proprietary quote and trade services. Intra-
day, executable price quotations on the Equities, money market
instruments, shares of ETFs, shares of exchange-traded investment
companies, and other assets held by the Fund are available from major
broker-dealer firms or on the exchanges on which they are traded, if
applicable. The foregoing Intra-day price information is available
through subscription services, such as Bloomberg and Thomson Reuters,
which can be accessed by authorized participants and other investors.
    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. Trading in Shares of the Fund will be halted
if the circuit breaker parameters in Nasdaq Rule 4120(a)(11) 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 Nasdaq Rule 5735(d)(2)(D),
which sets forth circumstances under which 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 Intraday 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 Intraday Indicative Value, the Disclosed Portfolio, and quotation
and last sale information for the Shares.
    For the above reasons, Nasdaq believes the proposed rule change is
consistent with the requirements of Section 6(b)(5) of the Act.

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 purposes of the Act. The Exchange believes that
the proposed rule change will facilitate the listing and trading of an
additional type of actively-managed exchange-traded fund 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

    Written comments were neither solicited nor received.

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 up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission shall: (a) By order approve
or disapprove such 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-NASDAQ-2015-124 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2015-124. 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 such filing will also 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-NASDAQ-2015-124 and should
be submitted on or before November 19, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\26\
---------------------------------------------------------------------------

    \26\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-27515 Filed 10-28-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: January 14, 2008 (Volume 73, Number 9)]
[Notices]
[Page 2243]
[DOCID:fr14ja08-56]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. EL08-31-000]

Westar Energy, Inc.; Notice of Filing

January 4, 2008.
    Take notice that on December 28, 2007, pursuant to Rule 207 of the
Commission's Rules of Practice and Procedure, 18 CFR 385.207 (2007),
section 1241 of the Energy Policy Act of 2005, which adds new section
219 of the Federal Power Act, and Order No. 679, Westar Energy, Inc.
filed a ``Petition for Declaratory Order to Confirm Incentive Rate
Treatment for High Voltage Transmission Projects.''
    Any person desiring to intervene or to protest this filing must
file in accordance with Rules 211 and 214 of the Commission's Rules of
Practice and Procedure (18 CFR 385.211, 385.214). Protests will be
considered by the Commission in determining the appropriate action to
be taken, but will not serve to make protestants parties to the
proceeding. Any person wishing to become a party must file a notice of
intervention or motion to intervene, as appropriate. Such notices,
motions, or protests must be filed on or before the comment date. On or
before the comment date, it is not necessary to serve motions to
intervene or protests on persons other than the Applicant.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper using the ``eFiling'' link at http://www.ferc.gov.
 Persons unable to file electronically should submit an

original and 14 copies of the protest or intervention to the Federal
Energy Regulatory Commission, 888 First Street, NE., Washington, DC
20426.
    This filing is accessible on-line at http://www.ferc.gov, using the

``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For

TTY, call<PHONE_NUMBER>.
    Comment Date: 5 p.m. Eastern Time on January 28, 2008.

Kimberly D. Bose,
Secretary.
 [FR Doc. E8-401 Filed 1-11-08; 8:45 am]

BILLING CODE 6717-01-P


44 Table 7b. Annual Burden and Cost for the Federal Government to Implement ( Second Year)

Proposed NESHAP for Existing Ethylene Production Facilities A B C D E F Burden item Technical Technical Management Clerical Total cost hours per Occurrences hours per year hours per year hours per year per year occurrence per year ( C = A x B) ( C x 0.05) ( C x 0.1)

@ $ 34.00 @ $ 56.00 @ $ 17.00 Review initial notification reports 8 13 104 5.2 10.4 $ 4,004 Review notifications of compliance status 10 13 130 6.5 13 $ 5,005 Review semiannual summary reports 15 26 390 19.5 39 $ 15,015 Review notifications of performance tests 8 1 8 0.4 0.8 $ 308 Attend initial performance tests 240 1 240 12 24 $ 9,240 Review test results 20 1 20 1 2 $ 770 Total hours 892 44.6 89.2 Total costs $ 34,342