Federal Register / Vol. 86, No. 129 / Friday, July 9, 2021 / Notices 36309 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 91949 

(May 20, 2021), 86 FR 28420. 

that may be subject to adverse 

environmental impacts.’’ Id. 

On April 23, 2021, in a Staff 

Requirements Memorandum (ADAMS 

Accession No. ML21113A070), the 

Commission directed the staff to 

‘‘systematically review how the agency’s 

programs, polices, and activities address 

environmental justice.’’ As part of this 

review, the Commission directed the 

staff to evaluate recent Executive Orders 

and assess whether environmental 

justice is appropriately considered and 

addressed in the agency’s programs, 

policies, and activities, given the 

agency’s mission. As directed, the staff 

will consider the practices of other 

Federal, State, and Tribal agencies and 

evaluate whether the NRC should 

incorporate environmental justice 

beyond implementation through NEPA. 

The staff will also review the adequacy 

of the 2004 Policy Statement. The 

Commission further directed the staff to 

consider whether establishing formal 

mechanisms to gather external 

stakeholder input would benefit any 

future environmental justice efforts. To 

carry out the Commission’s direction, 

the staff is seeking to engage 

stakeholders and interested persons 

representing a broad range of 

perspectives. This Federal Register 

notice and the meetings referenced 

herein are part of this engagement effort. 

III. Requested Information and 

Comments 

The NRC is interested in obtaining a 

broad range of perspectives from 

stakeholders and interested persons. 

The focus of this request is to gather 

information to inform a systematic 

assessment for how the NRC addresses 

environmental justice in its programs, 

policies, and activities, considering the 

agency’s mission and statutory 

authority. The NRC is particularly 

interested in receiving input on the 

following questions: 

(1) What is your understanding of 

what is meant by environmental justice 

at the NRC? 

(2) As described in the Commission’s 

2004 Policy Statement on the Treatment 

of Environmental Justice Matters in NRC 

Regulatory and Licensing Actions (69 

FR 52040), the NRC currently addresses 

environmental justice in its NEPA 

reviews to determine if a proposed 

agency action will have 

disproportionately high and adverse 

impacts on minority and low-income 

communities, defined as environmental 

justice communities. 

(a) When the NRC is conducting 

licensing and other regulatory reviews, 

the agency uses a variety of ways to 

gather information from stakeholders 

and interested persons on 

environmental impacts of the proposed 

agency action, such as in-person and 

virtual meetings, Federal Register 

notices requesting input, and dialog 

with community organizations. 

(i) How could the NRC expand how 

it engages and gathers input? 

(ii) What formal tools might there be 

to enhance information gathering from 

stakeholders and interested persons in 

NRC’s programs, policies, and 

activities? 

(iii) Can you describe any challenges 

that may affect your ability to engage 

with the NRC on environmental justice 

issues? 

(b) How could the NRC enhance 

opportunities for members of 

environmental justice communities to 

participate in licensing and regulatory 

activities, including the identification of 

impacts and other environmental justice 

concerns? 

(c) What ways could the NRC enhance 

identification of environmental justice 

communities? 

(d) What has the NRC historically 

done well, or currently does well that 

we could do more of or expand with 

respect to environmental justice in our 

programs, policies, and activities, 

including engagement efforts? In your 

view, what portions of the 2004 Policy 

Statement are effective? 

(3) What actions could the NRC take 

to enhance consideration of 

environmental justice in the NRC’s 

programs, policies and activities and 

agency decision-making, considering 

the agency’s mission and statutory 

authority? 

(a) Would you recommend that NRC 

consider any particular organization’s 

environmental justice program(s) in its 

assessment? 

(b) Looking to other Federal, State, 

and Tribal agencies’ environmental 

justice programs, what actions could the 

NRC take to enhance consideration of 

environmental justice in the NRC’s 

programs, policies, and activities? 

(c) Considering recent Executive 

Orders on environmental justice, what 

actions could the NRC take to enhance 

consideration of environmental justice 

in the NRC’s programs, policies, and 

activities? 

(d) Are there opportunities to expand 

consideration of environmental justice 

in NRC programs, policies, and 

activities, considering the agency’s 

mission? If so, what are they? 

IV. Public Meeting Information 

The NRC plans to hold public 

meetings during the public comment 

period for this action. The first public 

meetings are currently planned for July 

15, 2021, from 1:30 p.m.–3:00 p.m. ET 

and 8:00 p.m.–9:30 p.m. ET, via 

webinar. The public meetings will 

provide forums for the NRC staff to 

discuss issues and questions with 

stakeholders and interested persons. 

During the public meetings, the NRC 

does not intend to provide responses to 

comments submitted during the public 

meetings. The public meetings were 

noticed on the NRC’s public meeting 

website. Members of the public should 

monitor the NRC’s public meeting 

website for additional information about 

the public meetings at https://

www.nrc.gov/public-involve/publicmeetings/index.cfm. The NRC will post 

notices for additional public meetings 

associated with this effort and may post 

additional material related to this action 

to the Federal Rulemaking website at 

https://www.regulations.gov/ under 

Docket ID NRC–2021–0137. 

Dated: July 6, 2021. 

For the Nuclear Regulatory Commission. 

Gregory F. Suber, 

Director, Environmental Justice Review Team, 

Office of the Executive Director for 

Operations. 

[FR Doc. 2021–14673 Filed 7–8–21; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92320; File No. SR– 

NYSEArca–2021–28] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change To List 

and Trade the Shares of 

ConvexityShares Daily 1.5x SPIKES 

Futures ETF Under NYSE Arca Rule 

8.200–E (Trust Issued Receipts) 

July 2, 2021. 

On May 13, 2021, NYSE Arca, Inc. 

(‘‘NYSE Arca’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

list and trade shares of the 

ConvexityShares Daily 1.5x SPIKES 

Futures ETF under NYSE Arca Rule 

8.200–E, Commentary .02 (Trust Issued 

Receipts). The proposed rule change 

was published for comment in the 

Federal Register on May 26, 2021.3 The 


jbell on DSKJLSW7X2PROD with NOTICES
36310 Federal Register / Vol. 86, No. 129 / Friday, July 9, 2021 / Notices 

4 15 U.S.C. 78s(b)(2). 

5 Id. 

6 17 CFR 200.30–3(a)(31). 

1The term ‘‘Adviser’’ means (i) the Initial 

Adviser, (ii) its successors, and (iii) any entity 

controlling, controlled by or under common control 

with, the Initial Adviser or its successors that serves 

as the primary adviser to a Subadvised Fund. For 

the purposes of the requested order, ‘‘successor’’ is 

limited to an entity or entities that result from a 

reorganization into another jurisdiction or a change 

in the type of business organization. Any other 

Adviser also will be registered with the 

Commission as an investment adviser under the 

Advisers Act. 

2The term ‘‘Board’’ also includes the board of 

trustees or directors of a future Subadvised Fund (as 

defined below), if different from the board of 

trustees (‘‘Trustees’’) of the Trust. 

3A ‘‘Wholly-Owned Subadviser’’ is any 

investment adviser that is (1) an indirect or direct 

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

defined in the Act) of the Adviser, (2) a ‘‘sister 

company’’ of the Adviser that is an indirect or 

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

company that indirectly or directly wholly owns 

the Adviser (the Adviser’s ‘‘parent company’’), or 

(3) a parent company of the Adviser. An ‘‘Affiliated 

Subadviser’’ is any investment subadviser that is 

not a Wholly-Owned Subadviser, but is an 

‘‘affiliated person’’ (as defined in section 2(a)(3) of 

the Act) of a Subadvised Fund or the Adviser for 

reasons other than serving as investment subadviser 

to one or more Funds. A ‘‘Non-Affiliated 

Subadviser’’ is any investment adviser that is not 

an ‘‘affiliated person’’ (as defined in the Act) of a 

Fund or the Adviser, except to the extent that an 

affiliation arises solely because the Subadviser 

serves as a subadviser to one or more Funds. 

Commission has received no comment 

letters on the proposed rule change. 

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding, or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is July 10, 2021. 

The Commission is extending this 45- 

day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change. 

Accordingly, the Commission, pursuant 

to Section 19(b)(2) of the Act,5

designates August 24, 2021 as the date 

by which the Commission shall either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–NYSEArca–2021–28). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–14606 Filed 7–8–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

34322; 812–15187] 

New Age Alpha Trust and New Age 

Alpha Advisors, LLC 

July 6, 2021. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of an application under section 

6(c) of the Investment Company Act of 

1940 (‘‘Act’’) for an exemption from 

section 15(a) of the Act, as well as from 

certain disclosure requirements in rule 

20a-1 under the Act, Item 19(a)(3) of 

Form N–1A, Items 22(c)(1)(ii), 

22(c)(1)(iii), 22(c)(8) and 22(c)(9) of 

Schedule 14A under the Securities 

Exchange Act of 1934 (‘‘1934 Act’’), and 

sections 6–07(2)(a), (b), and (c) of 

Regulation S–X (‘‘Disclosure 

Requirements’’). 

APPLICANTS: New Age Alpha Trust 

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

registered under the Act as an open-end 

management investment company with 

multiple series (each a ‘‘Fund’’) and 

New Age Alpha Advisors, LLC (‘‘Initial 

Adviser’’), a Delaware limited liability 

company registered as an investment 

adviser under the Investment Advisers 

Act of 1940 (‘‘Advisers Act’’) that serves 

an investment adviser to the Funds 

(collectively with the Trust, the 

‘‘Applicants’’). 

SUMMARY OF APPLICATION: The requested 

exemption would permit Applicants to 

enter into and materially amend 

subadvisory agreements with 

subadvisers without shareholder 

approval and would grant relief from 

the Disclosure Requirements as they 

relate to fees paid to the subadvisers. 

FILING DATES: The application was filed 

on December 23, 2020 and amended on 

April 6, 2021. 

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 emailing the 

Commission’s Secretary at SecretarysOffice@sec.gov and serving Applicants 

with a copy of the request by email. 

Hearing requests should be received by 

the Commission by 5:30 p.m. on August 

2, 2021, 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 emailing the 

Commission’s Secretary at SecretarysOffice@sec.gov. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

msemack@newagealpha.com. 

FOR FURTHER INFORMATION CONTACT: Asaf 

Barouk, Attorney-Advisor, at (202) 551– 

4029, or Parisa Haghshenas, Branch 

Chief, at (202) 551–6825 (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. 

I. Requested Exemptive Relief 

1. Applicants request an order to 

permit the Adviser,1 subject to the 

approval of the board of trustees of the 

Trust (collectively, the ‘‘Board’’),2

including a majority of the trustees who 

are not ‘‘interested persons’’ of the Trust 

or the Adviser, as defined in section 

2(a)(19) of the Act (the ‘‘Independent 

Trustees’’), without obtaining 

shareholder approval, to: (i) Select 

investment subadvisers (‘‘Subadvisers’’) 

for all or a portion of the assets of one 

or more of the Funds pursuant to an 

investment subadvisory agreement with 

each Subadviser (each a ‘‘Subadvisory 

Agreement’’); and (ii) materially amend 

Subadvisory Agreements with the 

Subadvisers. 

2. Applicants also request an order 

exempting the Subadvised Funds (as 

defined below) from the Disclosure 

Requirements, which require each Fund 

to disclose fees paid to a Subadviser. 

Applicants seek relief to permit each 

Subadvised Fund to disclose (as a dollar 

amount and a percentage of the 

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

aggregate fees paid to the Adviser and 

any Wholly-Owned Subadvisers; and 

(ii) the aggregate fees paid to Affiliated 

and Non-Affiliated Subadvisers 

(‘‘Aggregate Fee Disclosure’’).3

Applicants seek an exemption to permit 


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