Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 31433 

10See, e.g., Securities Exchange Act Release No. 

77293 (March 4, 2016), 81 FR 12762 (March 4, 

2016) (SR–NYSEMKT–2016–34) (addressing the 

treatment of Binary Return Derivatives—or ByRDs— 

and exempting such transactions from all Exchange 

fees to encourage trading in the product). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(2). 

13 15 U.S.C. 78s(b)(2)(B). 14 17 CFR 200.30–3(a)(12). 

goal of introducing new products to the 

marketplace by encouraging trading in 

these products. To the extent that the 

proposed change incentivizes any 

market participants to direct their order 

flow to the Exchange, all market 

participants would benefit from 

increased liquidity and trading 

opportunities on the Exchange. Finally, 

the Exchange notes that offering market 

participants incentives to trade in 

certain newly offered products is not 

new or novel.10

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act, the Exchange does not believe 

that the proposed rule change would 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange believes the proposed 

transaction fees for NYSE FANG+ 

would not place an unfair burden on 

competition as it would apply to all 

similarly situated non-Customer/nonMarket Maker participants. The 

Exchange also believes the proposed 

pricing for NYSE FANG+ is 

procompetitive as it would further the 

Exchange’s goal of introducing new 

products to the marketplace and 

encouraging Market Makers to make a 

market in these products, which would 

in turn, benefit market participants. 

Market participants that do not wish to 

trade in or seek an appointment in 

NYSE FANG+ are not obliged to do so. 

The Exchange does not believe that 

the proposed change will impair the 

ability of any market participants or 

competing order execution venues to 

maintain their competitive standing in 

the financial markets. Further, the fees 

would be applied to all similarly 

situated participants (i.e., nonCustomers), and, as such, the proposed 

change would not impose a disparate 

burden on competition either among or 

between classes of market participants. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 11 of the Act and 

subparagraph (f)(2) of Rule 19b–4 12

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) 13 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 No. SR– 

NYSEAMER–2018–34 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 No. 

SR–NYSEAMER–2018–34. 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 No. 

SR–NYSEAMER–2018–34, and should 

be submitted on or before July 26, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14362 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–347, OMB Control No. 

3235–0393] 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

Washington, DC 20549–2736 

Extension: 

Rule 15g–4 

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 

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

existing collection of information 

provided for in Rule 15g–4—Disclosure 

of compensation to brokers or dealers 

(17 CRF 240.15g–4) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.). 

Rule 15g–4 requires brokers and 

dealers effecting transactions in penny 

stocks for or with customers to disclose 

the amount of compensation received by 

the broker-dealer in connection with the 

transaction. The purpose of the rule is 


amozie on DSK3GDR082PROD with NOTICES1
31434 Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 

1Applicants request that the order apply to the 

new series of the Company described in the 

application, as well as to additional series of the 

Company and any other open-end management 

investment company or series thereof that currently 

exist or that maybe created in the future (each, 

included in the term ‘‘Fund’’ ), each of which will 

operate as an actively-managed ETF. Any Fund will 

(a) be advised by MFAM or an entity controlling, 

controlled by, or under common control with 

MFAM (each such entity and any successor thereto 

is included in the term ‘‘Adviser’’ ) and (b) comply 

with the terms and conditions of the application. 

For purposes of the requested Order, the term 

‘‘successor’’ is limited to an entity that results from 

a reorganization into another jurisdiction or a 

change in the type of business organization. 

to increase the level of disclosure to 

investors concerning penny stocks 

generally and specific penny stock 

transactions. 

The Commission estimates that 

approximately 195 broker-dealers will 

spend an average of 87 hours annually 

to comply with this rule. Thus, the total 

compliance burden is approximately 

16,965 burden-hours per year. 

Rule 15g–4 contains record retention 

requirements. Compliance with the rule 

is mandatory. The required records are 

available only to the examination staff 

of the Commission and the self 

regulatory organizations of which the 

broker-dealer is a member. 

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. 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: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Candace Kenner, 100 F 

Street NE, Washington, DC 20549 or by 

sending an email to PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: June 28, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14358 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

33141; 812–14888] 

Motley Fool Asset Management, LLC 

and The RBB Fund, Inc. 

June 28, 2018. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of an application for an order 

under section 6(c) of the Investment 

Company Act of 1940 (the ‘‘Act’’) for an 

exemption from sections 2(a)(32), 

5(a)(1), 22(d), and 22(e) of the Act and 

rule 22c–1 under the Act, 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, and under section 

12(d)(1)(J) of the Act for an exemption 

from sections 12(d)(1)(A) and 

12(d)(1)(B) of the Act. The requested 

order would permit (a) activelymanaged series of certain open-end 

management investment companies 

(‘‘Funds’’) to issue shares redeemable in 

large aggregations only (‘‘Creation 

Units’’); (b) secondary market 

transactions in Fund shares to occur at 

negotiated market prices rather than at 

net asset value (‘‘NAV’’); (c) certain 

Funds to pay redemption proceeds, 

under certain circumstances, more than 

seven days after the tender of shares for 

redemption; (d) certain affiliated 

persons of a Fund to deposit securities 

into, and receive securities from, the 

Fund in connection with the purchase 

and redemption of Creation Units; (e) 

certain registered management 

investment companies and unit 

investment trusts outside of the same 

group of investment companies as the 

Funds (‘‘Funds of Funds’’) to acquire 

shares of the Funds; (f) certain Funds 

(‘‘Feeder Funds’’) to create and redeem 

Creation Units in-kind in a masterfeeder structure; and (g) the Funds to 

issue shares in less than Creation Unit 

size to investors participating in a 

distribution reinvestment program. 

APPLICANTS: Motley Fool Asset 

Management, LLC (‘‘MFAM’’), a 

Delaware limited liability company 

registered as an investment adviser 

under the Investment Advisers Act of 

1940, and The RBB Fund, Inc. 

(‘‘Company’’), a Maryland corporation 

registered under the Act as an open-end 

management investment company with 

multiple series. 

FILING DATES: The application was filed 

on March 15, 2018 and amended on 

May 1, 2018, and June 11, 2018. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the requested relief 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 July 23, 2018, and 

should be accompanied by proof of 

service on 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, Securities and 

Exchange Commission, 100 F Street NE, 

Washington, DC 20549–1090; 

Applicants: Michael P. Malloy, Esq., 

Drinker Biddle & Reath LLP, One Logan 

Square, Suite 2000, Philadelphia, PA 

19103 and Michael D. Barolsky, Esq., 

U.S. Bancorp Fund Services, LLC, 615 E 

Michigan Street, Milwaukee, WI 53202. 

FOR FURTHER INFORMATION CONTACT: 

Courtney S. Thornton, Senior Counsel, 

at (202) 551–6812, or Andrea 

Ottomanelli Magovern, Branch Chief, 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 

website by searching for the file 

number, or for an applicant using the 

Company name box, at http://

www.sec.gov/search/search.htm or by 

calling (202) 551–8090. 

Summary of the Application 

1. Applicants request an order that 

would allow Funds to operate as 

actively-managed exchange traded 

funds (‘‘ETFs’’).1 Fund shares will be 

purchased and redeemed at their NAV 

in Creation Units only (other than 

pursuant to a distribution reinvestment 

program described in the application). 

All orders to purchase Creation Units 

and all redemption requests will be 

placed by or through an ‘‘Authorized 

Participant’’ which will have signed a 

participant agreement with the 

Distributor. Shares will be listed and 

traded individually on a national 

securities exchange, where share prices 

will be based on the current bid/offer 

market. Certain Funds may operate as 

Feeder Funds in a master-feeder 

structure. Any order granting the 

requested relief would be subject to the 

terms and conditions stated in the 

application. 

2. Each Fund will consist of a 

portfolio of securities and other assets 


amozie on DSK3GDR082PROD with NOTICES1