Federal Register / Vol. 83, No. 6 / Tuesday, January 9, 2018 / Notices 1091 

1Applicants request relief with respect to any 

existing or future series of the Trust or any other 

registered open-end management company that: (a) 

Is advised by the Adviser, or any person 

controlling, controlled by or under common control 

with the Adviser or its successor (each, an 

‘‘Adviser’’); (b) uses the manager of managers 

structure described in the application; and (c) 

complies with the terms and conditions of the 

application (any such series, a ‘‘Fund’’ and 

collectively, the ‘‘Funds’’). For purposes of the 

requested order, ‘‘successor’’ is limited to an entity 

that results from a reorganization into another 

jurisdiction or a change in the type of business 

organization. 

2The requested relief will not extend to any 

subadviser that is an affiliated person, as defined in 

section 2(a)(3) of the Act, of the Trust, a Fund, or 

the Adviser, other than solely by reason of serving 

as a Subadviser to one or more of the Funds, or as 

an adviser or subadviser to any series of the Trust 

other than the Funds (‘‘Affiliated Subadviser’’). 

exemption would permit an investment 

adviser to hire and replace certain 

subadvisers without shareholder 

approval and grant relief from the 

Disclosure Requirements as they relate 

to fees paid to the subadvisers. 

APPLICANTS: Northern Lights Fund 

Trust (the ‘‘Trust’’), a Delaware statutory 

trust registered under the Act as an 

open-end management investment 

company, and AlphaCore Capital, LLC 

(the ‘‘Adviser’’), a Delaware limited 

liability company registered as an 

investment adviser under the 

Investment Advisers Act of 1940 

(collectively with the Trust, the 

‘‘Applicants’’). 

FILING DATES: The application was filed 

on August 3, 2017 and amended on 

November 29, 2017. 

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 January 29, 2018, and 

should be accompanied by proof of 

service on the 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, U.S. Securities 

and Exchange Commission, 100 F Street 

NE, Washington, DC 20549–1090. 

Applicants: Northern Lights Fund Trust, 

17605 Wright Street, Omaha, NE 68130 

and AlphaCore Capital, LLC, 875 

Prospect Street #315, La Jolla, CA 

92037. 

FOR FURTHER INFORMATION CONTACT: 

Barbara T. Heussler, Senior Counsel, at 

(202) 551–6990, or Robert H. Shapiro, 

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 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. The Adviser will serve as the 

investment adviser to the Funds 

pursuant to an investment advisory 

agreement with the Trust (the ‘‘Advisory 

Agreement’’).1 The Adviser will provide 

each Fund with overall investment 

management services and will 

continuously review, supervise and 

administer each Fund’s investment 

program, subject to the supervision of, 

and policies established by, each Fund’s 

board of trustees (‘‘Board’’). The 

Advisory Agreement permits the 

Adviser, subject to the approval of the 

Board, to delegate to one or more 

subadvisers (each, a ‘‘Subadviser’’ and 

collectively, the ‘‘Subadvisers’’) the 

responsibility to provide the day-to-day 

portfolio investment management of 

each Fund, subject to the supervision 

and direction of the Adviser. The 

primary responsibility for managing the 

Funds will remain vested in the 

Adviser. The Adviser will hire, 

evaluate, allocate assets to and oversee 

the Subadvisers, including determining 

whether a Subadviser should be 

terminated, at all times subject to the 

authority of the Board. 

2. Applicants request an exemption to 

permit the Adviser, subject to Board 

approval, to hire certain Subadvisers 

pursuant to subadvisory agreements and 

materially amend existing subadvisory 

agreements without obtaining the 

shareholder approval required under 

section 15(a) of the Act and rule 18f–2 

under the Act.2 Applicants also seek an 

exemption from the Disclosure 

Requirements to permit a Fund to 

disclose (as both a dollar amount and a 

percentage of the Fund’s net assets): (a) 

The aggregate fees paid to the Adviser 

and any Affiliated Subadviser; and (b) 

the aggregate fees paid to Subadvisers 

other than Affiliated Subadvisers. For 

any Fund that employs an Affiliated 

Subadviser, the Fund will provide 

separate disclosure of any fees paid to 

the Affiliated Subadviser. 

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 

Fund shareholders and notification 

about subadvisory changes and 

enhanced Board oversight to protect the 

interests of the 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 

Advisory Agreements will remain 

subject to shareholder approval while 

the role of the Subadvisers is 

substantially similar to that of 

individual portfolio managers, so that 

requiring shareholder approval of 

subadvisory agreements would impose 

unnecessary delays and expenses on the 

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 

Subadvisers that are more advantageous 

for the Funds. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–00156 Filed 1–8–18; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 10252] 

Notice of Determinations; Culturally 

Significant Object Imported for 

Exhibition Determinations: ‘‘Alberto 

Savinio’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that a certain object to be 

included in the ongoing exhibition 

‘‘Alberto Savinio,’’ imported from 

abroad for temporary exhibition within 

the United States, is of cultural 

significance. The object is imported 

pursuant to a loan agreement with the 

foreign owner or custodian. I also 


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1092 Federal Register / Vol. 83, No. 6 / Tuesday, January 9, 2018 / Notices 

determine that the exhibition or display 

of the exhibit object at the Center for 

Italian Modern Art, New York, New 

York, from on or about January 11, 2018, 

until on or about May 30, 2018, and at 

possible additional exhibitions or 

venues yet to be determined, is in the 

national interest. 

FOR FURTHER INFORMATION CONTACT: 

Elliot Chiu in the Office of the Legal 

Adviser, U.S. Department of State 

(telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, 

L/PD, SA–5, Suite 5H03, Washington, 

DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000 (and, as appropriate, Delegation of 

Authority No. 257–1 of December 11, 

2015). I have ordered that Public Notice 

of these determinations be published in 

the Federal Register. 

Alyson Grunder, 

Deputy Assistant Secretary for Policy, Bureau 

of Educational and Cultural Affairs, 

Department of State. 

[FR Doc. 2018–00171 Filed 1–8–18; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice: 10255] 

Designation of Abukar Ali Adan, aka 

Abukar Ali Aden, aka Sheikh Abukar, 

aka Ibrahim Afghan, as a Specially 

Designated Global Terrorist 

Acting under the authority of and in 

accordance with section 1(b) of 

Executive Order 13224 of September 23, 

2001, as amended by Executive Order 

13268 of July 2, 2002, and Executive 

Order 13284 of January 23, 2003, I 

hereby determine that the person known 

as Abukar Ali Adan aka Abukar Ali 

Aden aka Sheikh Abukar aka Ibrahim 

Afghan committed, or poses a 

significant risk of committing, acts of 

terrorism that threaten the security of 

U.S. nationals or the national security, 

foreign policy, or economy of the United 

States. 

Consistent with the determination in 

section 10 of Executive Order 13224 that 

prior notice to persons determined to be 

subject to the Order who might have a 

constitutional presence in the United 

States would render ineffectual the 

blocking and other measures authorized 

in the Order because of the ability to 

transfer funds instantaneously, I 

determine that no prior notice needs to 

be provided to any person subject to this 

determination who might have a 

constitutional presence in the United 

States, because to do so would render 

ineffectual the measures authorized in 

the Order. 

This notice shall be published in the 

Federal Register. 

Dated: December 11, 2017. 

Rex W. Tillerson, 

Secretary of State. 

[FR Doc. 2018–00196 Filed 1–8–18; 8:45 am] 

BILLING CODE 4710–0AD–P 

DEPARTMENT OF STATE 

[Public Notice: 10256] 

Notice of Determinations; Additional 

Culturally Significant Objects Imported 

for Exhibition Determinations: 

‘‘Beyond the Nile: Egypt and the 

Classical World’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that certain additional objects 

to be included in the exhibition 

‘‘Beyond the Nile: Egypt and the 

Classical World’’ (initially entitled 

‘‘Egypt—Greece—Rome: Cultures in 

Contact’’), imported from abroad for 

temporary exhibition within the United 

States, are of cultural significance. The 

additional objects are imported 

pursuant to loan agreements with the 

foreign owners or custodians. I also 

determine that the exhibition or display 

of the additional exhibit objects at The 

J. Paul Getty Museum at the Getty 

Center, Los Angeles, California, from on 

or about March 27, 2018, until on or 

about September 9, 2018, and at 

possible additional exhibitions or 

venues yet to be determined, is in the 

national interest. 

FOR FURTHER INFORMATION CONTACT: 

Elliot Chiu in the Office of the Legal 

Adviser, U.S. Department of State 

(telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, 

L/PD, SA–5, Suite 5H03, Washington, 

DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 

2000 (and, as appropriate, Delegation of 

Authority No. 257–1 of December 11, 

2015). I have ordered that Public Notice 

of these determinations be published in 

the Federal Register. 

Alyson Grunder, 

Deputy Assistant Secretary for Policy, Bureau 

of Educational and Cultural Affairs, 

Department of State. 

[FR Doc. 2018–00172 Filed 1–8–18; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice: 10254] 

Designation of Wanas al-Faqih as a 

Specially Designated Global Terrorist 

Acting under the authority of and in 

accordance with section 1(b) of 

Executive Order 13224 of September 23, 

2001, as amended by Executive Order 

13268 of July 2, 2002, and Executive 

Order 13284 of January 23, 2003, I 

hereby determine that the person known 

as Wanas al-Faqih committed, or poses 

a significant risk of committing acts of 

terrorism that threaten the security of 

U.S. nationals or the national security, 

foreign policy, or economy of the United 

States. 

Consistent with the determination in 

section 10 of Executive Order 13224 that 

prior notice to persons determined to be 

subject to the Order who might have a 

constitutional presence in the United 

States would render ineffectual the 

blocking and other measures authorized 

in the Order because of the ability to 

transfer funds instantaneously, I 

determine that no prior notice needs to 

be provided to any person subject to this 

determination who might have a 

constitutional presence in the United 

States, because to do so would render 

ineffectual the measures authorized in 

the Order. 

This notice shall be published in the 

Federal Register. 

Dated: December 11, 2017. 

Rex W. Tillerson, 

Secretary of State. 

[FR Doc. 2018–00195 Filed 1–8–18; 8:45 am] 

BILLING CODE 4710–AD–P 


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