Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices 8933 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f)(2). 

16 15 U.S.C. 78s(b)(2)(B). 17 17 CFR 200.30–3(a)(12). 

19(b)(3)(A) 14 of the Act and 

subparagraph (f)(2) of Rule 19b–4 15

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 16 of the Act to 

determine whether the proposed rule 

change should be approved or 

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 rule-comments@

sec.gov. Please include File Number SR– 

NYSEAMER–2021–07 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–NYSEAMER–2021–07. 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 website (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 website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSEAMER–2021–07, and 

should be submitted on or before March 

3, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02714 Filed 2–9–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–297, OMB Control No. 

3235–0336] 

Submission for OMB Review; 

Comment Request 

Revision: Form N–14 

Notice is hereby given that, under the 

Paperwork Reduction Act of 1995 (44 

U.S.C. 3501 et seq.) (‘‘Paperwork 

Reduction Act’’), the Securities and 

Exchange Commission (the 

‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for extension of the 

previously approved collection of 

information discussed below. 

Form N–14 (17 CFR 239.23) is the 

form for registration under the 

Securities Act of 1933 (15 U.S.C. 77a et 

seq.) (‘‘Securities Act’’) of securities 

issued by management investment 

companies registered under the 

Investment Company Act of 1940 (15 

U.S.C. 80a–1 et seq.) (‘‘Investment 

Company Act’’) and business 

development companies as defined by 

Section 2(a)(48) of the Investment 

Company Act in: (1) A transaction of the 

type specified in rule 145(a) under the 

Securities Act (17 CFR 230.145(a)); (2) a 

merger in which a vote or consent of the 

security holders of the company being 

acquired is not required pursuant to 

applicable state law; (3) an exchange 

offer for securities of the issuer or 

another person; (4) a public reoffering or 

resale of any securities acquired in an 

offering registered on Form N–14; or (5) 

two or more of the transactions listed in 

(1) through (4) registered on one 

registration statement. The principal 

purpose of Form N–14 is to make 

material information regarding 

securities to be issued in connection 

with business combination transactions 

available to investors. The information 

required to be filed with the 

Commission permits verification of 

compliance with securities law 

requirements and assures the public 

availability and dissemination of such 

information. Without the registration 

statement requirement, material 

information may not necessarily be 

available to investors. 

Estimates of the average burden hours 

are made solely for the purposes of the 

Paperwork Reduction Act and are not 

derived from a comprehensive or even 

representative survey or study of the 

costs of Commission rules and forms. 

The collection of information under 

Form N–14 is mandatory. The 

information provided under Form N–14 

will not be kept confidential. An agency 

may not conduct or sponsor, and a 

person is not required to respond to, a 

collection of information unless it 

displays a currently valid OMB control 

number. 

BILLING CODE 8011–01–P 

8934 Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices 

As summarized in Table 1 above, the 

Commission has previously estimated 

that about 253 funds will make about 

253 filings on Form N–14 each year, 

incurring 125,883 hours of internal hour 

burden at a cost of about $43.78 million. 


EN10FE21.000</GPH>
Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices 8935 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 90684 

(December 16, 2020) 85 FR 83637 (December 22, 

2020) (SR–CboeBZX–2020–091) (the ‘‘Initial 

Filing’’). 

The hour burden estimates for preparing 

and filing reports on Form N–14 are 

based on the Commission’s experience 

with the contents of the form. The 

number of burden hours may vary 

depending on, among other things, the 

complexity of the filing and whether 

preparation of the forms is performed by 

internal staff or outside counsel. 

The amendments to Form N–14 to 

permit BDCs to incorporate certain 

information by reference into that form 

to the same extent as registered closedend fund are expected to decrease the 

burden and costs for BDCs that prepare 

and file Forms N–14. As summarized in 

Table 1 above, we estimate that the total 

internal burden associated with N–14 

will be 125,260 hours, at a cost of 

approximately $37,856,382. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: 

Lindsay.M.Abate@omb.eop.gov; and (ii) 

David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Cynthia 

Roscoe, 100 F Street NE, Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. Written comments 

and recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Dated: February 4, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–02687 Filed 2–9–21; 8:45 am] 

BILLING CODE 8011–01–C 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–91064; File No. SR– 

CboeBZX–2021–014] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing of 

a Proposed Rule Amendment To Allow 

the Invesco Focused Discovery 

Growth ETF and Invesco Select 

Growth ETF (Each a ‘‘Fund’’ and, 

Collectively, the ‘‘Funds’’), Each a 

Series of the Invesco Actively 

Managed Exchange-Traded Fund Trust 

(the ‘‘Trust’’), To Strike and Publish 

Multiple Intra-Day Net Asset Values 

(‘‘NAVs’’) and an End-of-Day NAV 

February 4, 2021. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 

22, 2021, Cboe BZX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BZX’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe BZX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BZX’’) is filing with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule 

amendment to allow the Invesco 

Focused Discovery Growth ETF and 

Invesco Select Growth ETF (each a 

‘‘Fund’’ and, collectively, the ‘‘Funds’’), 

each a series of the Invesco Actively 

Managed Exchange-Traded Fund Trust 

(the ‘‘Trust’’), to strike and publish 

multiple intra-day net asset values 

(‘‘NAVs’’) and an end-of-day NAV. The 

shares of each Fund (the ‘‘Shares’’) 

would continue to comply with all of 

the listing standards set forth under 

Rule 14.11(m). 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

equities/regulation/rule_filings/bzx/), at 

the Exchange’s Office of the Secretary, 

and at the Commission’s Public 

Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant 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 proposed and the 

Commission approved a rule to permit 

the listing and trading of the Shares of 

each Fund.3 On December 22, 2020, the 

Exchange commenced trading in the 

Shares of each Fund. The Exchange now 

proposes to continue listing and trading 

the Shares of each Fund pursuant to 

Rule 14.11(m) and to permit the Funds 

to strike and publish multiple intra-day 

NAVs and an end-of-day NAV. This 

proposal is designed to provide the 

marketplace with additional 

information about the Funds and their 

respective holdings and the Exchange 

believes it will allow market 

participants to better estimate the value 

each Fund’s underlying holdings, assess 

their risk, and provide additional 

certainty around intra-day price and 

hedging for the Funds’ shares. 

The NAV represents the value of a 

fund’s assets minus its liabilities 

divided by the number of shares 

outstanding and is used in valuing 

exchange-traded products (‘‘ETPs’’), 

including Tracking Fund Shares. By 

way of background, an ETP issues 

shares that can be bought or sold 

throughout the day in the secondary 

market at a market-determined price. 

Authorized participants that have 

contractual arrangements with the ETP 

(or its distributor) purchase and redeem 

ETP shares directly from the ETP in 

blocks called creation units at a price 

equal to the next NAV, and may then 

purchase or sell individual ETP shares 

in the secondary market at marketdetermined prices. ETPs trade at market 

prices, but the market price typically 

will be more or less than the fund’s