[Federal Register: March 10, 2008 (Volume 73, Number 47)]
[Notices]
[Page 12782-12783]
[DOCID:fr10mr08-106]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 28183; 812-13418]

JPMorgan Trust I, et al.; Notice of Application

March 4, 2008.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from rule 12d1-2(a)
under the Act.

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

    Summary of Application: Applicants request an order to permit funds
of funds relying on rule 12d1-2 under the Act to invest in certain
financial instruments.
    Applicants: JPMorgan Trust I, JPMorgan Trust II, JPMorgan Insurance
Trust, J. P Morgan Mutual Fund Group, J. P Morgan Mutual Fund
Investment Trust, J. P Morgan Fleming Mutual Fund Group, Inc.,
Undiscovered Managers Funds, JPMorgan Institutional Trust, J. P Morgan
Series Trust II (collectively, the ``Trusts''), J. P Morgan Investment
Management, Inc. (``JPMIM'')), JPMorgan Investment Advisors, Inc.
(``JPMIA''), Security Capital Research & Management Incorporated
(``Security Capital,'' collectively with JPMIM and JPMIA, the
``Advisors''), and JPMorgan Distribution Services, Inc. (the
``Distributor'').
    Filing Dates: The application was filed on August 9, 2007, and
amended on November 21, 2007 and January 30, 2008. Applicants have
agreed to file an amendment during the notice period, the substance of
which is reflected in this notice.
    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 March 31, 2008 and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Secretary, Commission, 100 F Street, NE., Washington, DC
20549-1520; Applicants, c/o Jessica K. Ditullio, JPMorgan Funds, 1111
Polaris Parkway, Columbus, Ohio 43271.

FOR FURTHER INFORMATION CONTACT: Lewis Reich, Senior Counsel, at (202)
551-6919, or Nadya B. Roytblat, Assistant Director, at<PHONE_NUMBER>
(Division of Investment Management, Office of Investment Company
Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee at the
Commission's Public Reference Branch, 100 F Street, NE., Washington, DC
20549-0104 (telephone<PHONE_NUMBER>).

Applicants' Representations

    1. Each Trust is organized as a Delaware statutory trust, a
Maryland corporation or a Massachusetts business trust and is
registered under the Act as an open-end management investment company.
The Trusts offer separate series (``Funds of Funds'') that may invest
in other registered open-end management investment companies in
reliance on section 12(d)(1)(G) of the Act and rule 12d1-2 under the
Act (``Underlying Funds'' and together with the Funds of Funds,
``Funds'').\1\ Applicants propose that the Funds of Funds be permitted
to invest in financial instruments that may not be considered
securities within the meaning of section 2(a)(36) of the Act (``Other
Investments'') and are consistent with the investment objective of a
Funds of Funds.\2\
---------------------------------------------------------------------------

    \1\ Applicants request that the relief apply to all existing and
future series of the Trusts and any other registered open-end
management investment companies and their series that are in the
same group of investment companies, as defined in section
12(d)(1)(G) of the Act, as the Trusts. All Funds that currently
intend to rely on the order have been named as applicants. Any other
existing or future entity that relies on the order in the future
will do so only in accordance with the terms and conditions in the
application.
---------------------------------------------------------------------------

    2. The Advisors are Delaware or Ohio corporations that are
indirect, wholly-owned subsidiaries of JPMorgan Chase & Co., a Delaware
bank holding company holding company. The Advisors are registered as
investment advisers under the Investment Advisers Act of 1940 and serve
as investment adviser to the Funds. The Distributor, a Delaware
corporation and a direct, wholly-owned subsidiary of JPMorgan Chase &
Co., is registered as a broker-dealer under the Securities Exchange Act
of 1934 Act (``Exchange Act'') and serves as the distributor for the
Funds.

Applicants Legal Analysis

    1. Section 12(d)(1)(A) of the Act provides that no registered
investment

company (``acquiring company'') may acquire securities of another
investment company (``acquired company'') if such securities represent
more than 3% of the acquired company's outstanding voting stock or more
than 5% of the acquiring company's total assets, or if such securities,
together with the securities of other investment companies, represent
more than 10% of the acquiring company's total assets. Section
12(d)(1)(B) of the Act provides that no registered open-end investment
company may sell its securities to another investment company if the
sale will cause the acquiring company to own more than 3% of the
acquired company's voting stock, or cause more than 10% of the acquired
company's voting stock to be owned by investment companies.
    2. Section 12(d)(1)(G) of the Act provides that section 12(d)(1)
will not apply to securities of an acquired company purchased by an
acquiring company if: (i) The acquiring company and acquired company
are part of the same group of investment companies; (ii) the acquiring
company holds only securities of acquired companies that are part of
the same group of investment companies, government securities, and
short-term paper; (iii) the aggregate sales loads and distribution-
related fees of the acquiring company and the acquired company are not
excessive under rules adopted pursuant to section 22(b) or section
22(c) of the Act by a securities association registered under section
15A of the Exchange Act or by the Commission; and (iv) the acquired
company has a policy that prohibits it from acquiring securities of
registered open-end management investment companies or registered unit
investment trusts in reliance on section 12(d)(1)(F) or (G) of the Act.
    3. Rule 12d1-2 under the Act permits a registered open-end
investment company or a registered unit investment trust that relies on
section 12(d)(1)(G) of the Act to acquire, in addition to securities
issued by another registered investment company in the same group of
investment companies, government securities, and short-term paper: (1)
Securities issued by an investment company that is not in the same
group of investment companies, when the acquisition is in reliance on
section 12(d)(1)(A) or 12(d)(1)(F) of the Act; (2) securities (other
than securities issued by an investment company); and (3) securities
issued by a money market fund, when the investment is in reliance on
rule 12d1-1 under the Act. For the purposes of rule 12d1-2,
``securities'' means any security as defined in section 2(a)(36) of the
Act.
    4. Section 6(c) of the Act provides that the Commission may exempt
any person, security, or transaction from any provisions of the Act, or
from any rule under the Act, if such exemption is necessary or
appropriate in the public interest and consistent with the protection
of investors and the purposes fairly intended by the policies and
provisions of the Act.
    5. Applicants state that the proposed arrangement would comply with
the provisions of rule 12d1-2 under the Act, but for the fact that the
Funds of Funds may invest a portion of their assets in Other
Investments. Applicants request an order under section 6(c) of the Act
for an exemption from rule 12d1-2(a) to allow the Funds of Funds to
invest in Other Investments. Applicants assert that permitting the
Funds of Funds to invest in Other Investments as described in the
application would not raise any of the concerns that the requirements
of section 12(d)(1) were designed to address.

Applicants' Conditions

    Applicants agree that the order granting the requested relief will
be subject to the following conditions:
    1. Before approving any advisory contract under section 15 of the
Act, the board of trustees of a Fund of Funds, including a majority of
the trustees who are not interested persons, as defined in section
2(a)(19) of the Act, will find that the advisory fees, if any, charged
under the contract are based on services provided that are in addition
to, rather than duplicative of, services provided pursuant to any
Underlying Fund's advisory contract or the advisory contract of any
other investment company in which the Funds of Funds may invest. Such a
finding, and the basis upon which it was made, will be recorded fully
in the minute books of the Fund of Funds.
    2. Each Fund of Funds will comply with all provisions of rule 12d1-
2 under the Act, except for paragraph (a)(2), to the extent that it
restricts any Fund of Funds from investing in Other Investments as
described in the application.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-4616 Filed 3-7-08; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 84, Number 56 (Friday, March 22, 2019)]
[Notices]
[Pages 10890-10891]
[FR Doc No: 2019-05447]

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

 DEPARTMENT OF TRANSPORTATION

National Highway Traffic Safety Administration

Petition for Exemption From the Federal Motor Vehicle Theft
Prevention Standard; Ford Motor Company

AGENCY: National Highway Traffic Safety Administration (NHTSA),
Department of Transportation (DOT).

ACTION: Grant of petition for exemption.

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

SUMMARY: This document grants in full Ford Motor Company's (Ford)
petition for exemption of the model year 2020 Lincoln Corsair vehicle
line from the Federal Motor Vehicle Theft Prevention Standard. This
petition is granted because the agency has determined that the
antitheft device to be placed on the line as standard equipment is
likely to be as effective in reducing and deterring motor vehicle theft
as compliance with the parts-marking requirements of the Theft
Prevention Standard.

DATES: The exemption granted by this notice is effective beginning with
the 2020 model year (MY).

FOR FURTHER INFORMATION CONTACT: Ms. Carlita Ballard, Office of
International Policy, Fuel Economy and Consumer Programs, NHTSA, West
Building, W43-439, NRM-310, 1200 New Jersey Avenue SE, Washington, DC
20590. Ms. Ballard's phone number is<PHONE_NUMBER>. Her fax number is
202-493-2990.

SUPPLEMENTARY INFORMATION: In a petition dated November 16, 2018, Ford
requested an exemption from the parts-marking requirements of the Theft
Prevention Standard for the Lincoln Corsair vehicle line beginning with
MY 2020. The petition requested exemption from parts-marking pursuant
to 49 CFR part 543, ``Exemption from Vehicle Theft Prevention
Standard'', based on the installation of an antitheft device as
standard equipment for the entire vehicle line.
    Under 49 CFR part 543.5(a), a manufacturer may petition NHTSA to
grant an exemption for one vehicle line per model year. In its
petition, Ford provided a detailed description and diagram of the
identity, design, and location of the components of the antitheft
device for its Lincoln Corsair vehicle line. Ford stated that the
Lincoln Corsair will be installed with its Intelligent Access with Push
Button Start (IAwPB) system as standard equipment on the entire vehicle
line. Ford also stated that on its signature trim level models it will
offer phone as key (Paak) feature via of the LincolnWay app that can be
used when paired with a smart phone instead of using a key fob to lock/
unlock or remotely start/shutdown the vehicle. The IAwPB system is a
passive, electronic engine immobilizer device that uses encrypted
transponder technology. Key components of the IAwPB device will include
an Intelligent Access electronic Push-Button Start key fob, keyless
ignition system, radio transceiver module, body control module (BCM),
powertrain control module (PCM), anti-lock braking system module (ABS)
and an embedded secure modem (for Paak feature). Ford further stated
that its Lincoln Corsair vehicle line will also be offered with a
perimeter alarm system as standard equipment which will activate a
visible and audible alarm whenever unauthorized access is attempted.
    Ford stated that the device's integration of the transponder into
the normal operation of the ignition key assures activation of the
system. Ford also stated that its system is automatically activated
when the ``StartStop'' button is pressed, shutting off the engine. Ford
stated that the device is deactivated when a start sequence is
completed and engine start is successful. Ford further stated that the
vehicle engine can only be started when the key is present in the
vehicle and the ``StartStop'' button inside the vehicle is pressed.
Ford stated that when the ``StartStop'' button is pressed, the
transceiver module will read a key code and transmit an encrypted
message to the control module to determine key validity and engine
start by sending a separate encrypted message to the BCM and the PCM.
The powertrain will function only if the key code matches the unique
identification key code previously programmed into the BCM. Ford stated
that the two modules must be matched together in order for the vehicle
to start. If the codes do not match, the powertrain engine will be
inoperable. Ford further stated that any attempt to operate the vehicle
without transmission of the correct code to the electronic control
(i.e., short circuiting the ``StartStop'' button) module will be
ineffective.
    Ford's submission is considered a complete petition as required by
49 CFR 543.7, in that it meets the general requirements contained in
Sec.  543.5 and the specific content requirements of Sec.  543.6.
    In addressing the specific content requirements of Sec.  543.6,
Ford provided information on the reliability and durability of its
proposed device. To ensure reliability and durability of the device,
Ford conducted tests based on its own specified standards. Ford
provided a detailed list of the tests conducted and believes that the
device is reliable and durable since the device complied with its own
specified requirements for each test.
    Ford stated that incorporation of several features in the device
further support the reliability and durability of the device.
Specifically, some of those features include: encrypted communication
between the transponder, BCM control function and the PCM; virtually
impossible key duplication; and shared security data between the body
control module/remote function actuator and the powertrain control
module. Additionally, Ford stated that its antitheft device has no
moving parts (i.e., BCM, PCM, and electrical components) to perform
system functions which eliminate the possibility for physical damage or
deterioration from normal use; and mechanically overriding the device
to start the vehicle is also impossible.
    Ford stated that its MY 2019 Lincoln Corsair vehicle line will also
be equipped with several other standard antitheft features common to
Ford vehicles, (i.e., hood release located inside the vehicle,
counterfeit resistant VIN labels, secondary VINs, and cabin
accessibility only with the use of a valid key fob).
    Ford stated that it believes that the standard installation of its
IAwPB device would be an effective deterrent against vehicle theft and
compared its proposed device with other antitheft devices which NHTSA
has determined to be as effective in reducing and deterring motor
vehicle theft as would compliance with the parts-marking requirements.
    Ford stated that the antitheft device was installed on all MY 1996
Ford Mustang GT and Cobra models as well as other selected models. Ford
also stated that on its 1997 models, the installation of its antitheft
device was extended to the entire Ford Mustang vehicle line as standard
equipment and that according to the National Insurance Crime Bureau
(NICB) theft statistics, MY 1997 Mustangs installed with the antitheft
device showed a 70% reduction in theft rate compared to its MY 1995
Mustangs without an antitheft device.
    Ford further stated that the proposed antitheft device is very
similar to the system that was offered on its MY 2017 Lincoln MKC
vehicle line. The Lincoln MKC vehicle line was granted a parts-marking
exemption on September 30, 2015 by NHTSA (See 80 FR 60243, October 5,
2015) beginning with its MY 2017 vehicles.
    Ford also reported that beginning with MY 2010, its antitheft
device was

installed as standard equipment on all of its North American Ford,
Lincoln and Mercury vehicles but was offered as optional equipment on
its 2010 F-series Super Duty pickups, Econoline and Transit Connect
vehicles. Ford further stated that beginning with MY 2010, the IAwPB
device was installed as standard equipment on its Lincoln MKT vehicles.
In MY 2011, the device was offered as standard equipment on its Lincoln
MKX vehicle line, and as an option on the Lincoln MKS, Ford Taurus,
Edge, Explorer and Focus vehicles. Beginning with MY 2013, the device
was offered as standard equipment on the Lincoln MKZ and optionally on
the Ford Fusion, C-Max and Escape vehicles.
    Ford referenced the agency's published theft rate data for the Ford
Escape vehicles and stated that the Lincoln Corsair will use the IAwPB
device similar to the design and architecture of the Ford Escape. Ford
also stated that the Lincoln Corsair is comparably similar to the Ford
Escape in vehicle segment, size and equipment. The agency notes that
current theft rate data for the Ford Escape vehicle line for MYs 2012
through 2014 are 0.8336, 0.8547 and 0.5051 respectively.
    Based on the supporting evidence submitted by Ford on the device,
the agency believes that the antitheft device for the Lincoln Corsair
vehicle line is likely to be as effective in reducing and deterring
motor vehicle theft as compliance with the parts-marking requirements
of the Theft Prevention Standard (49 CFR part 541).
    Pursuant to 49 U.S.C. 33106 and 49 CFR 543.7(b), the agency grants
a petition for exemption from the parts-marking requirements of Part
541 either in whole or in part, if it determines that, based upon
substantial evidence, the standard equipment antitheft device is likely
to be as effective in reducing and deterring motor vehicle theft as
compliance with the parts-marking requirements of Part 541. The agency
finds that Ford has provided adequate reasons for its belief that the
antitheft device for the Lincoln Corsair vehicle line is likely to be
as effective in reducing and deterring motor vehicle theft as
compliance with the parts-marking requirements of the Theft Prevention
Standard (49 CFR part 541). This conclusion is based on the information
Ford provided about its device.
    The agency concludes that the device will provide the five types of
performance listed in 543.6(a)(3): Promoting activation; attracting
attention to the efforts of unauthorized persons to enter or operate a
vehicle by means other than a key; preventing defeat or circumvention
of the device by unauthorized persons; preventing operation of the
vehicle by unauthorized entrants; and ensuring the reliability and
durability of the device.
    The agency notes that 49 CFR part 541, Appendix A-1, identifies
those lines that are exempted from the Theft Prevention Standard for a
given model year. 49 CFR part 543.7(f) contains publication
requirements incident to the disposition of all Part 543 petitions.
Advanced listing, including the release of future product nameplates,
the beginning model year for which the petition is granted and a
general description of the antitheft device is necessary in order to
notify law enforcement agencies of new vehicle lines exempted from the
parts-marking requirements of the Theft Prevention Standard.
    If Ford decides not to use the exemption for this line, it must
formally notify the agency. If such a decision is made, the line must
be fully marked according to the requirements under 49 CFR parts 541.5
and 541.6 (marking of major component parts and replacement parts).
    NHTSA notes that if Ford wishes in the future to modify the device
on which this exemption is based, the company may have to submit a
petition to modify the exemption. Part 543.7(d) states that a Part 543
exemption applies only to vehicles that belong to a line exempted under
this part and equipped with the antitheft device on which the line's
exemption is based. Further, Part 543.10(c)(2) provides for the
submission of petitions ``to modify an exemption to permit the use of
an antitheft device similar to but differing from the one specified in
that exemption.''
    The agency wishes to minimize the administrative burden that Part
543.10(c)(2) could place on exempted vehicle manufacturers and itself.
The agency did not intend in drafting Part 543 to require the
submission of a modification petition for every change to the
components or design of an antitheft device. The significance of many
such changes could be de minimis. Therefore, NHTSA suggests that if the
manufacturer contemplates making any changes, the effects of which
might be characterized as de minimis, it should consult the agency
before preparing and submitting a petition to modify.
    For the foregoing reasons, the agency hereby grants in full Ford's
petition for exemption for the Lincoln Corsair vehicle line from the
parts-marking requirements of 49 CFR part 541, beginning with its model
year (MY) 2020 vehicles.

    Issued in Washington, DC, under authority delegated in 49 CFR
1.95 and 501.8.
Raymond R. Posten,
Associate Administrator for Rulemaking.
[FR Doc. 2019-05447 Filed 3-21-19; 8:45 am]
 BILLING CODE 4910-59-P


[Federal Register Volume 77, Number 153 (Wednesday, August 8, 2012)]
[Notices]
[Pages 47482-47486]
[FR Doc No: 2012-19351]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67559; File No. SR-NYSEArca-2012-57]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting
Approval of Proposed Rule Change Relating to the Listing and Trading of
QAM Equity Hedge ETF Under NYSE Arca Equities Rule 8.600

August 1, 2012.

I. Introduction

    On June 1, 2012, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
list and trade shares (``Shares'') of the QAM Equity Hedge ETF
(``Fund'') under NYSE Arca Equities Rule 8.600. The proposed rule
change was published for comment in the Federal Register on June 19,
2012.\3\ The Commission received no comments on the proposal. This
order grants approval of the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 67196 (June 13,
2012), 77 FR 36591 (``Notice'').
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change

    The Exchange proposes to list and trade the Shares of the Fund
pursuant to NYSE Arca Equities Rule 8.600, which governs the listing
and trading of Managed Fund Shares on the Exchange. The Shares will be
offered by AdvisorShares Trust (``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.\4\ The
investment adviser to the Fund is AdvisorShares Investments, LLC
(``Adviser''). Commerce Asset Management serves as investment sub-
adviser to the Fund (``Sub-Adviser'') and provides day-to-day portfolio
management of the Fund. Foreside Fund Services, LLC is the principal
underwriter and distributor of the Fund's Shares. The Bank of New York

Mellon Corporation serves as administrator, custodian, and transfer
agent for the Fund. The Exchange represents that, while the Adviser is
not affiliated with a broker-dealer, the Sub-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.\5\
---------------------------------------------------------------------------

    \4\ The Trust is registered under the Investment Company Act of
1940 (``1940 Act''). On September 16, 2011, the Trust filed with the
Commission an amendment to its registration statement on Form N-1A
under the Securities Act of 1933 (``Securities Act'') and under the
1940 Act relating to the Fund (File Nos. 333-157876 and 811-22110)
(``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. 28822 (July 20,
2009) (File No. 812-13488).
    \5\ See Commentary .06 to NYSE Arca Equities Rule 8.600. The
Exchange represents that in the event (a) the Adviser or Sub-Adviser
becomes newly affiliated with a broker-dealer, or (b) any new
adviser or sub-adviser becomes affiliated with a broker-dealer, it
will implement a fire wall with respect to such broker-dealer
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.
---------------------------------------------------------------------------

Principal Investment Strategies

    The Fund seeks investment results that exceed the risk adjusted
performance of approximately 50% of the long/short equity hedge fund
universe as defined by the HFRI Equity Hedge (Total) Index (``HFRI
Index'') constituents.\6\ The Fund is a ``fund of funds'' that seeks to
achieve its investment objective, under normal circumstances,\7\ by
investing at least 60% of its portfolio in both long and short
positions in exchange-traded funds (``ETFs'') \8\ and exchange-traded
notes (``ETNs'') \9\ that offer diversified exposure to global regions,
countries, investment styles (i.e., value, growth), sectors, and
industries, as well as exchange-traded currency and commodity trusts
(collectively, with ETFs and ETNs, ``Underlying ETPs''),\10\ including
Underlying ETPs that invest in short duration debt, cash, other cash
equivalents, and other highly liquid instruments based on the Sub-
Adviser's current analysis. The Sub-Adviser seeks to achieve the Fund's
investment objective by taking long and short positions in Underlying
ETPs that the Sub-Adviser believes, in the aggregate, will track the
performance of a selected universe of long/short equity hedge
funds.\11\ The Underlying ETPs in which the Fund will invest will
primarily be index-based ETFs that hold substantially all of their
assets in securities that offer diversified exposure to global regions,
countries, investment styles, sectors, and industries.
---------------------------------------------------------------------------

    \6\ The HFRI Index contains more than 2,400 funds. Instead of
the Fund having an investment objective to outperform the HFRI
Index, the Fund's investment objective is to outperform 50% of the
constituents in the HFRI Index.
    \7\ 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.
    \8\ For purposes of this proposed rule change, ETFs are
securities registered under the 1940 Act such as those listed and
traded on the Exchange under NYSE Arca Equities Rules 5.2(j)(3)
(Investment Company Units), 8.100 (Portfolio Depositary Receipts),
and 8.600 (Managed Fund Shares).
    \9\ For purposes of this proposed rule change, ETNs are
securities that are registered pursuant to the Securities Act such
as those listed and traded on the Exchange pursuant to NYSE Arca
Equities Rule 5.2(j)(6).
    \10\ Underlying ETPs include, in addition to ETFs and ETNs, the
following securities: Trust Issued Receipts (as described in NYSE
Arca Equities Rule 8.200); Commodity-Based Trust Shares (as
described in NYSE Arca Equities Rule 8.201); Currency Trust Shares
(as described in NYSE Arca Equities Rule 8.202); Commodity Index
Trust Shares (as described in NYSE Arca Equities Rule 8.203); and
closed-end funds. The Underlying ETPs all will be listed and traded
in the U.S. on registered exchanges.
    \11\ Long/short equity hedge funds typically buy stocks, ETFs,
ETNs, or currencies that the hedge fund managers expect will
appreciate, and concurrently either sell short stocks, ETFs, ETNs,
or currencies that the hedge fund managers expect will decline in
value or to hedge market or sector exposures.
---------------------------------------------------------------------------

    In managing the Fund's portfolio, among other proprietary
analytics, the Sub-Adviser will utilize Markov Processes International,
LLC's Dynamic Style Analysis (``DSA'') patented hedge fund analysis
software to help select the Fund's investments and determine the
allocation among such investments. The Sub-Adviser will identify
approximately 50 market factors that track the aggregated exposure and
approximate the returns of the selected universe of long/short equity
hedge funds. The Sub-Adviser will use DSA and other proprietary
analytics to define and track the various market factors and relative
exposures and to adjust the Fund's portfolio as necessary. At any given
time, such market factors may include country exposure, sector
exposure, industry exposure, and currency exposure. In seeking to
achieve its investment objective, the Fund will seek to remain invested
at all times in securities or derivatives (as described below) that
provide the desired exposures to market factors.
    The Fund's portfolio typically will consist of up to 50 Underlying
ETPs and other securities, as described below. Under normal
circumstances, the Fund's largest or maximum investment in any single
issuer will range between 5% and 10% of the Fund's portfolio.
    The Fund, through its investment in Underlying ETPs, may invest in:
(i) Closed-end funds, pooled investment vehicles that are registered
under the 1940 Act and whose shares are listed and traded on U.S.
national securities exchanges; (ii) equity securities of foreign
issuers, including the securities of foreign issuers in emerging
countries; \12\ and (iii) shares of real estate investment trusts
(REITs), which are pooled investment vehicles which invest primarily in
real estate or real estate-related loans.
---------------------------------------------------------------------------

    \12\ The Exchange states that emerging or developing markets
exist in countries that are considered to be in the initial stages
of industrialization. The risks of investing in these markets are
similar to the risks of international investing in general, although
the risks are greater in emerging and developing markets. Countries
with emerging or developing securities markets tend to have economic
structures that are less stable than countries with developed
securities markets, because their economies may be based on only a
few industries, and their securities markets may trade a small
number of securities. Prices on these exchanges tend to be volatile,
and securities in these countries historically have offered greater
potential for gain (as well as loss) than securities of companies
located in developed countries.
---------------------------------------------------------------------------

Other Investment Practices and Strategies

    To respond to adverse market, economic, political, or other
conditions, the Fund may invest 100% of its total assets, without
limitation, in high-quality debt securities and money market
instruments either directly or through Underlying ETPs. The Fund may be
invested in this manner for extended periods depending on the Sub-
Adviser's assessment of market conditions. Debt securities and money
market instruments include shares of mutual funds, commercial paper,
certificates of deposit, bankers' acceptances, U.S. Government
securities, repurchase agreements, and bonds that are BBB or higher.
    Under normal circumstances, the Fund may hold up to 40% of its
portfolio in other investments. For example, on a day-to-day basis, the
Fund may hold money market instruments, cash or cash equivalents, and/
or Underlying ETPs that invest in these and other highly liquid
instruments, to collateralize its derivative positions.
    The Fund, or the Underlying ETPs in which it invests, may invest in
U.S. Treasury zero-coupon bonds. These securities are U.S. Treasury
bonds which have been stripped of their unmatured interest coupons, the
coupons themselves, and receipts or certificates representing interests
in such stripped debt obligations and coupons. Interest is not paid in
cash during the term of these securities, but is accrued and paid at
maturity.
    The Fund or an Underlying ETP may invest in equity securities,
which represent ownership interests in a

company or partnership and consist of common stocks, preferred stocks,
warrants to acquire common stock, securities convertible into common
stock, and investments in master limited partnerships.
    The Fund or an Underlying ETP may invest in American Depositary
Receipts (``ADRs''), as well as Global Depositary Receipts (``GDRs,''
and together with ADRs, ``Depositary Receipts''), which are
certificates evidencing ownership of shares of a foreign issuer.
Depositary Receipts will be sponsored. These certificates are issued by
depositary banks and generally trade on an established market in the
United States or elsewhere. The underlying shares are held in trust by
a custodian bank or similar financial institution in the issuer's home
country. The depositary bank may not have physical custody of the
underlying securities at all times and may charge fees for various
services, including forwarding dividends and interest and corporate
actions. Depositary Receipts are alternatives to directly purchasing
the underlying foreign securities in their national markets and
currencies. However, Depositary Receipts continue to be subject to many
of the risks associated with investing directly in foreign securities.
    The Fund, or the Underlying ETPs in which it invests, may invest in
U.S. government securities. Securities issued or guaranteed by the U.S.
government or its agencies or instrumentalities include U.S. Treasury
securities, which are backed by the full faith and credit of the U.S.
Treasury and which differ only in their interest rates, maturities, and
times of issuance. U.S. Treasury bills have initial maturities of one-
year or less; U.S. Treasury notes have initial maturities of one to ten
years; and U.S. Treasury bonds generally have initial maturities of
greater than ten years. Certain U.S. government securities are issued
or guaranteed by agencies or instrumentalities of the U.S. government
including, but not limited to, obligations of U.S. government agencies
or instrumentalities such as Fannie Mae, Freddie Mac, the Government
National Mortgage Association (Ginnie Mae), the Small Business
Administration, the Federal Farm Credit Administration, the Federal
Home Loan Banks, Banks for Cooperatives (including the Central Bank for
Cooperatives), the Federal Land Banks, the Federal Intermediate Credit
Banks, the Tennessee Valley Authority, the Export-Import Bank of the
United States, the Commodity Credit Corporation, the Federal Financing
Bank, the Student Loan Marketing Association, the National Credit Union
Administration, and the Federal Agricultural Mortgage Corporation
(Farmer Mac).
    The Fund may not (i) with respect to 75% of its total assets,
purchase securities of any issuer (except securities issued or
guaranteed by the U.S. Government, its agencies or instrumentalities,
or shares of investment companies) if, as a result, more than 5% of its
total assets would be invested in the securities of such issuer; or
(ii) acquire more than 10% of the outstanding voting securities of any
one issuer. For purposes of this policy, the issuer of the underlying
security will be deemed to be the issuer of any respective Depositary
Receipt.
    The Fund may not invest 25% or more of its total assets in the
securities of one or more issuers conducting their principal business
activities in the same industry or group of industries. This limitation
does not apply to investments in securities issued or guaranteed by the
U.S. Government, its agencies or instrumentalities, or shares of
investment companies. The Fund will not invest 25% or more of its total
assets in any investment company that so concentrates. For purposes of
this policy, the issuer of the underlying security will be deemed to be
the issuer of any respective Depositary Receipt.
    While the Fund may invest up to 40% of its total assets in put and
call options on indices (and enter into related closing transactions),
exchange-listed futures contracts, and options on futures contracts,
the Adviser expects that, under normal market conditions, the Fund will
invest no more than 15% in such options and 15% in such futures on a
daily basis.
    The Fund may conduct foreign currency transactions on a spot (i.e.,
cash) or forward basis (i.e., by entering into forward contracts to
purchase or sell foreign currencies up to 10% of its total assets).
Currency transactions made on a spot basis are for cash at the spot
rate prevailing in the currency exchange market for buying or selling
currency.
    The Fund may enter into repurchase agreements with financial
institutions, which may be deemed to be loans. The Fund follows certain
procedures designed to minimize the risks inherent in such agreements.
These procedures include effecting repurchase transactions only with
large, well-capitalized, and well-established financial institutions
whose condition will be continually monitored by the Sub-Adviser. The
Fund may enter into reverse repurchase agreements without limit as part
of the Fund's investment strategy. Reverse repurchase agreements
involve sales by the Fund of portfolio assets concurrently with an
agreement by the Fund to repurchase the same assets at a later date at
a fixed price.
    The Fund may invest up to 15% of its total assets in swap
agreements, including, but not limited to, total return swaps, index
swaps, and interest rate swaps. The Fund may utilize swap agreements in
an attempt to gain exposure to the securities in a market without
actually purchasing those securities, or to hedge a position. In
seeking to establish a long or short position in such instruments, the
Fund may use swaps based on published indices, including international
indices.
    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid securities (calculated at the time of investment),
including Rule 144A securities and loan participation interests. 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.
    The Fund will seek to qualify for treatment as a Regulated
Investment Company (RIC) under the Internal Revenue Code. Except for
Underlying ETPs that may hold non-U.S. issues, the Fund will not
otherwise invest in non-U.S.-registered issues. The Fund's investments
will be consistent with the Fund's investment objective and will not be
used to enhance leverage. That is, while the Fund will be permitted to
borrow as permitted under the 1940 Act, the Fund's investments will not
be used to seek performance that is the multiple or inverse multiple
(i.e., 2Xs and 3Xs) of the Fund's broad-based securities market index
(as defined in Form N-1A).\13\ The Fund will not invest in leveraged or
inverse leveraged Underlying ETPs.
---------------------------------------------------------------------------

    \13\ The Exchange states that the Fund's broad-based securities
market index, which is to be determined, will be identified in an
amendment to the Registration Statement.
---------------------------------------------------------------------------

    Additional information regarding the Trust and the Shares,
including investment strategies, risks, creation and redemption
procedures, fees, portfolio holdings, disclosure policies,
distributions, and taxes, among other

things, can be found in the Notice and Registration Statement, as
applicable.\14\
---------------------------------------------------------------------------

    \14\ See Notice and Registration Statement, supra notes 3 and 4,
respectively.
---------------------------------------------------------------------------

III. Discussion and Commission's Findings

    The Commission has carefully reviewed the proposed rule change and
finds that it is consistent with the requirements of Section 6 of the
Act \15\ and the rules and regulations thereunder applicable to a
national securities exchange.\16\ In particular, the Commission finds
that the proposal is consistent with Section 6(b)(5) of the Act,\17\
which requires, among other things, that the Exchange's rules be
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, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. The Commission notes that
the Fund and the Shares must comply with the requirements of NYSE Arca
Equities Rule 8.600 to be listed and traded on the Exchange.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78f.
    \16\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \17\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Act,\18\ which sets forth Congress' finding that it is in the public
interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for, and transactions in, securities. 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 (``PIV''), as defined in NYSE Arca Equities Rule
8.600(c)(3), will be widely disseminated by one or more major market
data vendors at least every 15 seconds during the Exchange's Core
Trading Session.\19\ 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), that will form the basis for the
Fund's calculation of the net asset value (``NAV'') at the end of the
business day.\20\ The Fund will calculate NAV once each business day as
of the close of normal trading on the New York Stock Exchange
(normally, 4:00 p.m. Eastern Time). In addition, 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 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.
The Web site for the Fund will include a form of the prospectus for the
Fund, additional data relating to NAV, and other applicable
quantitative information. The intra-day, closing, and settlement prices
of the portfolio investments (e.g., Underlying ETPs, put and call
options, futures contracts, forward contracts, money market funds, and
options on futures contracts) will also be readily available from the
national securities exchanges trading such securities, automated
quotation systems, published or other public sources, or on-line
information services such as Bloomberg or Reuters. Further, a basket
composition file, which includes the security names and share
quantities required to be delivered in exchange for the Fund's Shares,
together with estimates and actual cash components, will be publicly
disseminated daily prior to the opening of the New York Stock Exchange
via the National Securities Clearing Corporation. The basket represents
one ``Creation Unit'' of the Fund.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
    \19\ According to the Exchange, several major market data
vendors widely disseminate PIVs taken from CTA or other data feeds.
    \20\ On a daily basis, the Adviser will disclose for each
portfolio security and other financial instrument of the Fund the
following information on the Fund's Web site: ticker symbol (if
applicable), name of security and financial instrument, number of
shares or dollar value of each security and financial instrument
held in the portfolio, and percentage weighting of the security and
financial instrument in the portfolio. The Web site information will
be publicly available at no charge.
---------------------------------------------------------------------------

    The Commission further believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. The Commission notes 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.\21\
In addition, the Exchange will halt trading in the Shares under the
specific circumstances set forth in NYSE Arca Equities Rule
8.600(d)(2)(D), and may halt trading in the Shares if trading is not
occurring in the securities and/or the financial instruments comprising
the Disclosed Portfolio of the Fund, or if other unusual conditions or
circumstances detrimental to the maintenance of a fair and orderly
market are present.\22\ The Exchange will consider the suspension of
trading in or removal from listing of the Shares if the PIV is no
longer calculated or available or the Disclosed Portfolio is not made
available to all market participants at the same time.\23\ The Exchange
represents that the Adviser is not affiliated with a broker-dealer. The
Exchange further represents that the Sub-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.\24\ The Commission notes
that Adviser and Sub-Adviser personnel who make decisions on the Fund's
portfolio composition must be subject to procedures designed to prevent
the use and dissemination of material, non-

public information regarding the Fund's portfolio.\25\ Further, the
Commission notes that the Reporting Authority that provides the
Disclosed Portfolio must implement and maintain, or be subject to,
procedures designed to prevent the use and dissemination of material,
non-public information regarding the actual components of the
portfolio.\26\ The Exchange states that it has a general policy
prohibiting the distribution of material, non-public information by its
employees. The Commission also notes that the Exchange would be able to
obtain surveillance information from all securities exchanges listing
and/or trading the securities held by the Fund, including information
from the U.S. exchanges, all of which are ISG members, on which the
Underlying ETPs, Depositary Receipts, futures, options, and other
applicable portfolio securities are listed and traded.
---------------------------------------------------------------------------

    \21\ See NYSE Arca Equities Rule 8.600(d)(1)(B).
    \22\ 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. 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.
    \23\ See NYSE Arca Equities Rule 8.600(d)(2)(C)(ii).
    \24\ See supra note 5 and accompanying text. The Commission
notes that an investment adviser to an open-end fund is required to
be registered under the Investment Advisers Act of 1940 (``Advisers
Act''). As a result, the Adviser, the Sub-Adviser, and their 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.
    \25\ See Commentary .06 to NYSE Arca Equities Rule 8.600.
    \26\ See NYSE Arca Equities Rule 8.600(d)(2)(B)(ii).
---------------------------------------------------------------------------

    The Exchange further represents that the Shares are deemed to be
equity securities, thus rendering trading in the Shares subject to the
Exchange's existing rules governing the trading of equity securities.
In support of this proposal, the Exchange has made representations,
including:
    (1) The Shares will conform to the initial and continued listing
criteria under NYSE Arca Equities Rule 8.600.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) The Exchange's surveillance procedures applicable to derivative
products, which include Managed Fund Shares, 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.
    (4) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit Holders in an Information Bulletin
(``Bulletin'') of the special characteristics and risks associated with
trading the Shares. Specifically, the Bulletin will discuss the
following: (a) The procedures for purchases and redemptions of Shares
in Creation Unit aggregations (and that Shares are not individually
redeemable); (b) NYSE Arca Equities Rule 9.2(a), which imposes a duty
of due diligence on its Equity Trading Permit Holders to learn the
essential facts relating to every customer prior to trading the Shares;
(c) the risks involved in trading the Shares during the Opening and
Late Trading Sessions when an updated PIV will not be calculated or
publicly disseminated; (d) how information regarding the PIV is
disseminated; (e) the requirement that Equity Trading Permit Holders
deliver a prospectus to investors purchasing newly issued Shares prior
to or concurrently with the confirmation of a transaction; and (f)
trading information.
    (5) For initial and/or continued listing, the Fund will be in
compliance with Rule 10A-3 under the Act,\27\ as provided by NYSE Arca
Equities Rule 5.3.
---------------------------------------------------------------------------

    \27\ See 17 CFR 240.10A-3.
---------------------------------------------------------------------------

    (6) The Fund may not hold more than an aggregate amount of 15% of
its net assets in illiquid securities (calculated at the time of
investment), including Rule 144A securities and loan participation
interests.
    (7) Except for Underlying ETPs that may hold non-U.S. issues, the
Fund will not otherwise invest in non-U.S.-registered issues. Options,
futures, and options on futures contracts in which the Fund invests
will be U.S. exchange-listed. The Fund will invest no more than 15% of
total assets in such options and 15% of total assets in such futures on
a daily basis. The Fund may invest up to 15% of its total assets in
swap agreements, including, but not limited to, total return swaps,
index swaps, and interest rate swaps.
    (8) The Fund will not invest in leveraged or inverse leveraged
Underlying ETPs. The Fund's investments will be consistent with the
Fund's investment objective and will not be used to enhance leverage.
    (9) The Exchange would be able to obtain surveillance information
from all securities exchanges listing and/or trading the securities
held by the Fund, including information from the U.S. exchanges, all of
which are ISG members, on which the Underlying ETPs, Depositary
Receipts, futures, options, and other applicable portfolio securities
are listed and traded.
    (10) A minimum of 100,000 Shares of each Fund will be outstanding
at the commencement of trading on the Exchange.
This approval order is based on the Exchange's representations and
description of the Fund, including those set forth above and in the
Notice.
    For the foregoing reasons, the Commission finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act\28\ and the
rules and regulations thereunder applicable to a national securities
exchange.
---------------------------------------------------------------------------

    \28\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\29\ that the proposed rule change (SR-NYSEArca-2012-57) be, and it
hereby is, approved.
---------------------------------------------------------------------------

    \29\ 15 U.S.C. 78s(b)(2).

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

    \30\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-19351 Filed 8-7-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: March 3, 2009 (Volume 74, Number 40)]
[Notices]
[Page 9259-9260]
[DOCID:fr03mr09-80]

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

DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1823-DR; Docket ID FEMA-2008-0018]

Oklahoma; Major Disaster and Related Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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

SUMMARY: This is a notice of the Presidential declaration of a major
disaster for the State of Oklahoma (FEMA-1823-DR), dated February 17,
2009, and related determinations.

DATES: Effective Date: February 17, 2009.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Disaster Assistance
Directorate, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter
dated February 17, 2009, the President issued a major disaster
declaration under the authority of the Robert T. Stafford Disaster
Relief and Emergency Assistance Act, 42 U.S.C. 5121-5207 (the Stafford
Act), as follows:

    I have determined that the damage in certain areas of the State
of Oklahoma resulting from a severe winter storm during the period
of January 26-28, 2009, is of sufficient severity and magnitude to
warrant a major disaster declaration under the Robert T. Stafford
Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121-5207
(the Stafford Act). Therefore, I declare that such a major disaster
exists in the State of Oklahoma.
    In order to provide Federal assistance, you are hereby
authorized to allocate from funds available for these purposes such
amounts as you find necessary for Federal disaster assistance and
administrative expenses.
    You are authorized to provide Public Assistance in the
designated areas, Hazard Mitigation throughout the State, and any
other forms of assistance under the Stafford Act that you deem
appropriate. Consistent with the requirement that Federal assistance
is supplemental, any Federal funds provided

under the Stafford Act for Public Assistance and Hazard Mitigation
will be limited to 75 percent of the total eligible costs. If Other
Needs Assistance under Section 408 of the Stafford Act is later
requested and warranted, Federal funding under that program will
also be limited to 75 percent of the total eligible costs.
    Further, you are authorized to make changes to this declaration
to the extent allowable under the Stafford Act.

    The Federal Emergency Management Agency (FEMA) hereby gives notice
that pursuant to the authority vested in the Administrator, under
Executive Order 12148, as amended, Douglas G. Mayne, of FEMA is
appointed to act as the Federal Coordinating Officer for this major
disaster.
    The following areas of the State of Oklahoma have been designated
as adversely affected by this major disaster:

    Adair, Cherokee, Delaware, and Hughes Counties for Public
Assistance.
    All counties within the State of Oklahoma are eligible to apply
for assistance under the Hazard Mitigation Grant Program.
    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households In Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050, Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Nancy Ward,
Acting Administrator, Federal Emergency Management Agency.
[FR Doc. E9-4517 Filed 3-2-09; 8:45 am]

BILLING CODE 9111-23-P