Federal Register / Vol. 83, No. 137 / Tuesday, July 17, 2018 / Notices 33287 

2As used herein, a ‘‘Sub-Adviser’’ for a 

Subadvised Fund is (1) an indirect or direct 

‘‘wholly owned subsidiary’’ (as such term is defined 

in the Act) of the Adviser for that Subadvised Fund, 

or (2) a sister company of the Adviser for that 

Subadvised Fund that is an indirect or direct 

‘‘wholly-owned subsidiary’’ of the same company 

that, indirectly or directly, wholly owns the Adviser 

(each of (1) and (2) a ‘‘Wholly-Owned Sub-Adviser’’ 

and collectively, the ‘‘Wholly-Owned SubAdvisers’’), or (3) not an ‘‘affiliated person’’ (as such 

term is defined in section 2(a)(3) of the Act) of the 

Subadvised Fund, any Feeder Fund invested in a 

Master Fund, the Trust, or the Adviser, except to 

the extent that an affiliation arises solely because 

the Sub-Adviser serves as a sub-adviser to a 

Subadvised Fund (‘‘Non-Affiliated Sub-Advisers’’). 

3The requested relief will not extend to any subadviser, other than a Wholly-Owned Sub-Adviser, 

who is an affiliated person, as defined in section 

2(a)(3) of the Act, of the Subadvised Fund, of any 

Feeder Fund, or of the Adviser, other than by 

reason of serving as a sub-adviser to one or more 

of the Subadvised Funds (‘‘Affiliated SubAdviser’’). 

4For any Subadvised Fund that is a Master Fund, 

the relief would also permit any Feeder Fund 

invested in that Master Fund to disclose Aggregate 

Fee Disclosure. 

the board of trustees of the Trust 

(‘‘Board’’), provides continuous 

investment management of the assets of 

each Subadvised Fund. Consistent with 

the terms of the Investment 

Management Agreement, the Adviser 

may, subject to the approval of the 

Board, delegate portfolio management 

responsibilities of all or a portion of the 

assets of a Subadvised Fund to one or 

more Sub-Advisers.2 The Adviser will 

continue to have overall responsibility 

for the management and investment of 

the assets of each Subadvised Fund. The 

Adviser will evaluate, select, and 

recommend Sub-Advisers to manage the 

assets of a Subadvised Fund and will 

oversee, monitor and review the SubAdvisers and their performance and 

recommend the removal or replacement 

of Sub-Advisers. 

2. Applicants request an order to 

permit the Adviser, subject to the 

approval of the Board, to enter into 

investment sub-advisory agreements 

with the Sub-Advisers (each, a ‘‘SubAdvisory Agreement’’) and materially 

amend such Sub-Advisory Agreements 

without obtaining the shareholder 

approval required under section 15(a) of 

the Act and rule 18f–2 under the Act.3

Applicants also seek an exemption from 

the Disclosure Requirements to permit a 

Subadvised Fund to disclose (as both a 

dollar amount and a percentage of the 

Subadvised Fund’s net assets): (a) The 

aggregate fees paid to the Adviser and 

any Wholly-Owned Sub-Advisers; (b) 

the aggregate fees paid to Non-Affiliated 

Sub-Advisers; and (c) the fee paid to 

each Affiliated Sub-Adviser 

(collectively, Aggregate Fee 

Disclosure’’).4

3. Applicants agree that any order 

granting the requested relief will be 

subject to the terms and conditions 

stated in the application. Such terms 

and conditions provide for, among other 

safeguards, appropriate disclosure to 

Subadvised Funds’ shareholders and 

notification about sub-advisory changes 

and enhanced Board oversight to protect 

the interests of the Subadvised Funds’ 

shareholders. 

4. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security, or transaction or any 

class or classes of persons, securities, or 

transactions from any provisions of the 

Act, or any rule thereunder, if such 

relief is necessary or appropriate in the 

public interest and consistent with the 

protection of investors and purposes 

fairly intended by the policy and 

provisions of the Act. Applicants 

believe that the requested relief meets 

this standard because, as further 

explained in the application, the 

Investment Management Agreements 

will remain subject to shareholder 

approval, while the role of the SubAdvisers is substantially equivalent to 

that of individual portfolio managers, so 

that requiring shareholder approval of 

Sub-Advisory Agreements would 

impose unnecessary delays and 

expenses on the Subadvised Funds. 

Applicants believe that the requested 

relief from the Disclosure Requirements 

meets this standard because it will 

improve the Adviser’s ability to 

negotiate fees paid to the Sub-Advisers 

that are more advantageous for the 

Subadvised Funds. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15173 Filed 7–16–18; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 10464] 

Notice of Renewal of the Charter of the 

International Telecommunication 

Advisory Committee (ITAC) 

This notice announces the renewal of 

the Charter for the International 

Telecommunication Advisory 

Committees (ITAC). In accordance with 

the provisions of the Federal Advisory 

Committee Act (Pub. L. 92–463, 5 U.S.C. 

Appendix) and the general authority of 

the Secretary of State and the 

Department of State set forth in Title 22 

of the United States code, in particular 

Sections 2656 and 2707, the charter of 

the International Telecommunication 

Advisory Committee has been renewed 

for another two years. The ITAC 

consists of members of the 

telecommunications industry, ranging 

from network operators and service 

providers to equipment vendors, 

members of academia, members of civil 

society, and officials of interested 

government agencies. The ITAC 

provides views and advice to the 

Department of State on positions on 

international telecommunications and 

information policy matters. This advice 

has been a major factor in ensuring that 

the United States was well prepared to 

participate effectively in the 

international telecommunications and 

information policy arena, including the 

International Telecommunication Union 

(ITU), the Organization of American 

States Inter-American 

Telecommunication Commission 

(CITEL), the Organization for Economic 

Cooperation and Development (OECD), 

the Asia Pacific Economic Cooperation 

Forum Telecommunications and 

Information Working Group, and other 

international bodies addressing 

communication and information policy 

issues. 

FOR FURTHER INFORMATION CONTACT: 

Please contact Franz Zichy at 202–647– 

5778, zichyfj@state.gov. 

Stephan A. Lang, 

Acting Director, Multilateral Affairs, Cyber 

and International Communications and 

Information Policy, U.S. Department of State. 

[FR Doc. 2018–15258 Filed 7–16–18; 8:45 am] 

BILLING CODE 4710–07–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

Notice of Public Meeting: National 

Dialogue on Highway Automation 

AGENCY: Federal Highway 

Administration (FHWA), U.S. 

Department of Transportation (DOT). 

ACTION: Notice of public meetings. 

SUMMARY: The FHWA is holding a 

National Dialogue on Highway 

Automation through a series of public 

meetings across the country to seek 

input on the integration of automated 

vehicles on the Nation’s roadways. The 

objectives of the public meetings are: (1) 

To engage with a diverse group of 

stakeholders to understand key issues 

regarding automated vehicles and their 

implications for the roadway 

infrastructure; and (2) to gather input on 

highway automation to help inform 

FHWA research, policy, and programs. 

The public meetings will have 


daltland on DSKBBV9HB2PROD with NOTICES
33288 Federal Register / Vol. 83, No. 137 / Tuesday, July 17, 2018 / Notices 

presentations and breakout sessions 

during which participants can provide 

input to FHWA and DOT 

representatives. The National Dialogue 

meetings began on June 26 and will 

continue through the end of 2018. 

DATE AND TIME: The FHWA will hold the 

public meetings in approximately five 

locations across the country. A tentative 

schedule is outlined below and is 

subject to change. Meeting information 

will be updated and made available on 

the FHWA National Dialogue on 

Highway Automation website: https://

ops.fhwa.dot.gov/automationdialogue/ 

index.htm. 

Tentative meetings include the 

following: 

• Week of July 30, 2018: National 

Workshop 2: Data and Digital 

Infrastructure (Seattle, Washington) 

• September 2018: National Workshop 

3: Freight (Chicago, Illinois) 

• October 24–25, 2018: National 

Workshop 4: Operations (Phoenix, 

Arizona) 

• November 14–15, 2018: National 

Workshop 5: Infrastructure and MultiModal Safety (Austin, Texas) 

FOR FURTHER INFORMATION CONTACT: If 

you have questions about the public 

meeting, please contact John Corbin at 

john.corbin@dot.gov or 

highwayautomation@dot.gov. 

SUPPLEMENTARY INFORMATION: 

Registration is necessary for all 

attendees. Registration information will 

be available at https://ops.fhwa.dot.gov/ 

automationdialogue/index.htm. Inperson attendance will be limited, so 

advance registration is required for all 

attendees. Should it be necessary to 

cancel the meeting due to inclement 

weather or other emergency, FHWA will 

take all available measures to notify 

registered participants beforehand. 

Background 

Automated vehicles have the 

potential to significantly transform the 

Nation’s roadways. They could help 

save lives, expand access to 

transportation, and improve the 

convenience of travel. However, even as 

these technologies offer new 

opportunities, they may introduce new 

challenges for the agencies responsible 

for the planning, design, construction, 

operation, and maintenance of the 

Nation’s roadway infrastructure. As a 

result, FHWA is interested in better 

understanding the implications of 

highway automation. 

This National Dialogue on Highway 

Automation is an opportunity to engage 

the public and broader stakeholder 

community to understand their key 

areas of interest. These stakeholders will 

include original equipment 

manufacturers, technology suppliers, 

transportation network companies, 

associations, and public sector partners. 

The National Dialogue will help inform 

national research, policy, and 

implementation assistance activities to 

support automation readiness. 

Meeting Format 

The National Dialogue meetings are 

designed to support significant 

interaction among participants. 

Workshops will include discussions 

with government and industry leaders, 

breakout sessions, listening sessions, 

and opportunities to collaborate with 

meeting participants. Each workshop 

will run from 1 to 1.5 days and will 

have opportunities for general and 

topic-specific input. Focus areas 

identified include policy and planning, 

data and digital infrastructure, freight, 

operations, safety, infrastructure, and 

multi-modal safety. 

Authority: 49 U.S.C. 1.25a. 

Issued on: July 6, 2018. 

Brandye L. Hendrickson, 

Acting Administrator, Federal Highway 

Administration. 

[FR Doc. 2018–15232 Filed 7–16–18; 8:45 am] 

BILLING CODE 4910–22–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

[FHWA Docket No. FHWA–2017–0023] 

Proposed Guidance on Safe Harbor 

Rate Streamlining for Engineering and 

Design Services Consultant Contracts 

AGENCY: Federal Highway 

Administration (FHWA), U.S. 

Department of Transportation (DOT). 

ACTION: Notice; request for comment. 

SUMMARY: The FHWA is soliciting 

comments regarding proposed guidance 

on implementation of a Safe Harbor 

indirect cost rate for certain engineering 

design service firms that find 

establishing such rates to be costly and 

a barrier to participating in engineering 

and design service contracts reimbursed 

with Federal-aid Highway Program 

(FAHP) Funds. The FHWA seeks 

comment on its proposed 

implementation of a Safe Harbor 

indirect cost rate and its intention to 

notify all contracting agencies receiving 

FAHP funds that an agency-developed 

Safe Harbor indirect cost rate for eligible 

consulting firms may be used as a 

component of a risk-based oversight 

process to provide reasonable assurance 

to FHWA that consultant costs on 

FAHP-funded contracts are allowable in 

accordance with the Federal regulations. 

DATES: Comments must be received on 

or before August 16, 2018. Late-filed 

comments will be considered to the 

extent practicable. 

ADDRESSES: Mail or hand deliver 

comments to the U.S. Department of 

Transportation, Dockets Management 

Facility, Room W12–140, 1200 New 

Jersey Avenue SE, Washington, DC 

20590, or fax comments to (202) 493– 

2251. Alternatively, comments may be 

submitted to the Federal eRulemaking 

portal at: http://www.regulations.gov. 

All comments must include the docket 

number that appears in the heading of 

this document. All comments received 

will be available for examination and 

copying at the above address from 9 

a.m. to 5 p.m., ET, Monday through 

Friday, except Federal holidays. Those 

desiring notifications of receipt of 

comments must include a selfaddressed, stamped postcard, or you 

may print the acknowledgment page 

that appears after submitting comments 

electronically. Anyone can search the 

electronic form of all comments in any 

one of our dockets by the name of the 

individual submitting the comment (or 

signing the comment, if submitted on 

behalf of an association, business, or 

labor union). Anyone may review DOT’s 

complete Privacy Act Statement in the 

Federal Register published on April 11, 

2000 (Volume 65, Number 70, Pages 

19477–78). 

FOR FURTHER INFORMATION CONTACT: For 

questions about the program discussed 

herein, contact John McAvoy, 

Consultant Services Program Manager, 

FHWA Office of Program 

Administration, (202) 853–5593 or via 

email at john.mcavoy@dot.gov. For legal 

questions, please contact Steve Rochlis, 

Office of the Chief Counsel, (202) 366– 

1395, or via email at steve.rochlis@

dot.gov. Office hours are from 8:00 a.m. 

to 4:30 p.m., ET, Monday through 

Friday, except Federal holidays. 

SUPPLEMENTARY INFORMATION: 

Electronic Access and Filing 

You may submit or retrieve comments 

online through the Federal eRulemaking 

portal at: http://www.regulations.gov. 

The website is available 24 hours each 

day, 365 days each year. Please follow 

the instructions. Electronic submission 

and retrieval help and guidelines are 

available under the help section of the 

website. An electronic copy of this 

document may also be downloaded 

from the Office of the Federal Register’s 

home page at: http://www.archives.gov 

and the U.S. Government Publishing 


daltland on DSKBBV9HB2PROD with NOTICES