30-Day Notice

91824

Federal Register / Vol. 89, No. 224 / Wednesday, November 20, 2024 / Notices

Funds must continue to comply with
Regulation Fair Disclosure as if it
applied to them (except that the
exemptions provided in rule
100(b)(2)(iii) therein shall not apply).
Applicants believe that the creation
basket flexibility they are seeking does
not raise any new concerns about
selective disclosure of material nonpublic information. First, a Fund’s use
of, or conversations with Authorized
Participants about, Creation Baskets that
would result in such disclosure would
effectively be limited by the Funds’
obligation to comply with Regulation
Fair Disclosure. Second, each Business
Day before the open of trading on the
Exchange where a Fund is listed, the
Fund will publish on its website the
composition of any basket accepted by
the Fund on the previous Business Day
that differed from such Business Day’s
Pro Rata Basket.

khammond on DSK9W7S144PROD with NOTICES

II. Requested Exemptive Relief
Applicants believe that the Prior
Order continues to meet the relevant
standards for relief pursuant to section
6(c) of the Act for an exemption from
sections 2(a)(32), 5(a)(1), and 22(d) of
the Act and rule 22c–1 under the Act,
and under sections 6(c) and 17(b) of the
Act for an exemption from sections
17(a)(1) and 17(a)(2) of the Act.7
III. Applicants’ Conditions:
Applicants agree that any Order of the
Commission granting the requested
relief will be subject to all of the
conditions in the Prior Order, except
condition 2 and condition 6 which are
replaced with new conditions 2 and 6
below, as well as new condition 10:
2. The website for the Trust, which
will be publicly accessible at no charge,
will contain, on a per Share basis for
each Fund, the prior Business Day’s
NAV and market closing price or Bid/
Ask Price of the Shares, a calculation of
the premium or discount of the market
closing price or Bid/Ask Price against
such NAV, and any other information
regarding premiums and discounts as
may be required for other ETFs under
Rule 6c–11 under the 1940 Act. The
website will also disclose the median
bid-ask spread for each Fund’s most
recent fiscal year based on the National
Best Bid and Offer at the time of
calculation of NAV (or such other
spread measurement as may be required
for other ETFs under Rule 6c–11 under
the 1940 Act). On each applicable
Business Day, when accepting orders
involving a Creation Basket that differs
from the Fund’s Pro Rata Basket, each
Fund will publish on its website before
7 See

supra note 2.

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the opening of regular trading on the
primary listing Exchange of the Fund’s
Shares an Optimized Basket and
Optimized Basket Overlap.
6. Each Fund will comply with the
recordkeeping requirements of Rule 6c–
11 under the Act, except that for
purposes of this condition, only
Creation Baskets different from the
Fund’s Pro Rata Basket will be treated
as a ‘‘custom basket’’ under Rule 6c–
11(d)(2)(ii). In addition, each Fund will
maintain and preserve, for a period of
not less than five years, in an easily
accessible place, (i) a copy of any
Optimized Basket published on the
Fund’s website for each Business Day;
and (ii) a copy of each Creation Basket
made available on a given day. In
addition, each Fund will maintain and
preserve, for a period of not less than
five years, in an easily accessible place,
all written agreements (or copies
thereof) between the Fund and each AP
Representative related to the AP
Representative’s role as such.
10. Each Fund will adopt and
implement written policies and
procedures that govern the construction
of Creation Baskets, as required under
Rule 6c–11(c)(3) under the Act, except
that for purposes of this condition, any
Creation Basket different from the
Fund’s Pro Rata Basket will be treated
as a ‘‘custom basket.’’ The Fund’s basket
policies and procedures will be covered
by the Fund’s compliance program and
other requirements under Rule 38a–1
under the Act.
For the Commission, by the Division of
Investment Management, pursuant to
delegated authority.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2024–27015 Filed 11–19–24; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–451, OMB Control No.
3235–0509]

Submission for OMB Review;
Comment Request; Extension: Rule
301 of Regulation ATS
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA
Services, 100 F Street NE,
Washington, DC 20549–2736
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget

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(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 301 of Regulation ATS (17 CFR
242.301) under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.)
(‘‘Exchange Act’’).
Regulation ATS provides a regulatory
structure for alternative trading systems.
Rule 301 of Regulation ATS contains
certain record keeping and reporting
requirements, as well as additional
obligations that apply only to alternative
trading systems with significant volume.
The Rule requires all alternative trading
systems that wish to comply with
Regulation ATS to file an initial
operation report on Form ATS.
Alternative trading systems are also
required to supply updates on Form
ATS to the Commission describing
material changes to the system, file
quarterly transaction reports on Form
ATS–R, and file cessation of operations
reports on Form ATS. An alternative
trading system with significant volume
is required to comply with requirements
for fair access and systems capacity,
integrity, and security.
The Commission staff estimates that
entities subject to the requirements of
Rule 301 will spend a total of
approximately 2,983 hours a year to
comply with the Rule.
Regulation ATS requires ATSs to
preserve any records, for at least three
years, made in the process of complying
with the system’s capacity, integrity and
security requirements.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent by
December 20, 2024 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) Austin Gerig, Director/Chief
Data Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg, 100
F Street NE, Washington, DC 20549, or
by sending an email to: PRA_Mailbox@
sec.gov.
Dated: November 15, 2024.
Vanessa A. Countryman.
Secretary.
[FR Doc. 2024–27119 Filed 11–19–24; 8:45 am]
BILLING CODE 8011–01–P

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