Federal Register / Vol. 82, No. 183 / Friday, September 22, 2017 / Notices 44477 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 34–81030 

(June 27, 2017), 82 FR 30933 (July 3, 2017) (SR– 

ICC–2017–009) (‘‘Notice’’). 

4Securities Exchange Act Release No. 34–81414 

(August 17, 2017), 82 FR 40050 (August 23, 2017) 

(SR–ICC–2017–009). 

5Notice, 82 FR at 30934. 

6 Id. 

7 Id. 

8 Id. 

9 Id. 

10 15 U.S.C. 78s(b)(2)(C). 11 15 U.S.C. 78q–1(b)(3)(F). 12 15 U.S.C. 78q–1. 13Notice, 82 FR at 30934. 

2(d)). This information is made 

available to the public. Information 

provided on Form CB is mandatory. 

Form CB takes approximately 0.5 hours 

per response to prepare and is filed by 

approximately 111 respondents 

annually. We estimate that 25% of the 

0.5 hours per response (0.125 hours) is 

prepared by the respondent for an 

annual reporting burden of 14 hours 

(0.125 hours per response × 111 

responses). 

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 

control number. 

The public may view the background 

documentation for this information 

collection at the following Web site, 

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 Remi Pavlik-Simon, 

100 F Street NE., Washington, DC 20549 

or send an email to: PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: September 15, 2017. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–20219 Filed 9–21–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81646; File No. SR–ICC– 

2017–009] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Order Approving 

Proposed Rule Change Relating to the 

Clearance of Additional Credit Default 

Swap Contracts 

September 18, 2017. 

I. Introduction 

On June 13, 2017, ICE Clear Credit 

LLC (‘‘ICC’’) 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 

revise the ICC Rulebook (the ‘‘Rules’’) in 

order to provide for the clearance of 

Standard Asia Corporate Single Name 

CDS contracts (collectively, ‘‘STASC 

Contracts’’), Standard Asia Financial 

Corporate Single Name CDS contracts 

(collectively, ‘‘STASFC Contracts’’), and 

Standard Emerging Market Corporate 

Single Name CDS contracts 

(collectively, ‘‘STEMC Contracts’’). The 

proposed rule change was published for 

comment in the Federal Register on July 

3, 2017.3 The Commission did not 

receive comments on the proposed rule 

change. On August 17, 2017, the 

Commission designated a longer period 

for Commission action on the proposed 

rule change.4 For the reasons discussed 

below, the Commission is approving the 

proposed rule change. 

II. Description of the Proposed Rule 

Change 

The purpose of this proposed rule 

change is to provide the basis for ICC to 

clear additional credit default swap 

contracts. Specifically, ICC has 

proposed amending Chapter 26 of the 

ICC Rules to add Subchapters 26O 

(providing for the clearance of STASC 

Contracts), 26P (providing for the 

clearance of STASFC Contracts), and 

26Q (providing for the clearance of 

STEMC Contracts). ICC has represented 

that proposed Subchapters 26O and 26Q 

have terms similar to those Subchapters 

governing clearance of other corporate 

single name CDS contracts,5 and that 

proposed Subchapter 26P has terms 

similar to those Subchapters governing 

clearance of other financial corporate 

single name CDS contracts.6 Therefore, 

ICC states that the rules found in the 

new Subchapters 26O, 26P, and 26Q 

‘‘largely mirror’’ the ICC Rules for 

currently cleared contracts, ‘‘with 

certain modifications that reflect 

differences in terms and market 

conventions.’’ 7 Each contract will be 

denominated in United States Dollars.8

ICC has also represented that clearing of 

the additional STASC, STASFC, and 

STEMC Contracts will not require any 

changes to ICC’s Risk Management 

Framework or other policies and 

procedures constituting rules within the 

meaning of the Act.9

III. Discussion and Commission 

Findings 

Section 19(b)(2)(C) of the Act directs 

the Commission to approve a proposed 

rule change of a self-regulatory 

organization if the Commission finds 

that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to such selfregulatory organization.10 Section 

17A(b)(3)(F) of the Act 11 requires that, 

among other things, that the rules of a 

clearing agency be designed to promote 

the prompt and accurate clearance and 

settlement of securities transactions 

and, to the extent applicable, derivative 

agreements, contracts, and transactions, 

to assure the safeguarding of securities 

and funds which are in the custody or 

control of the clearing agency or for 

which it is responsible and, in general, 

to protect investors and the public 

interest. 

The Commission finds that the rule 

change is consistent with the 

requirements of Section 17A of the 

Act 12 and the rules and regulations 

thereunder applicable to ICC. The 

Commission has reviewed the terms and 

conditions of these contracts and has 

determined that they are substantially 

similar to those that ICC currently 

clears, the key difference being the 

underlying reference obligations. 

Moreover, the Commission has 

reviewed the Notice and ICC’s Rules, 

policies and procedures, which provide 

that the STASC, STASFC and STEMC 

Contracts will be cleared pursuant to 

ICC’s existing clearing arrangements and 

related financial safeguards, protections 

and risk management procedures.13 In 

addition, the Commission has evaluated 

information submitted by ICC, including 

data on volume, open interest, and the 

number of ICC clearing participants 

(‘‘CPs’’) that currently trade in the 

STASC, STASFC and STEMC Contracts 

as well as certain model parameters for 

the additional STASC, STASFC and 

STEMC Contracts. Based on this review, 

the Commission finds that ICC’s rules, 

policies, and procedures are reasonably 

designed to price and measure the 

potential risk presented by these 

products; collect financial resources in 

proportion to such risk; and liquidate 

these products in the event of a CP 

default. Thus, the Commission finds 

that acceptance of the additional 

STASC, STASFC and STEMC Contracts, 

on the terms and conditions set out in 

ICC’s Rules, is consistent with the 

44478 Federal Register / Vol. 82, No. 183 / Friday, September 22, 2017 / Notices 

14 15 U.S.C. 78q-1(b)(3)(F). 

15 15 U.S.C. 78q-1. 

16 15 U.S.C. 78s(b)(2). 

17 In approving the proposed rule change, the 

Commission considered the proposal’s impact on 

efficiency, competition and capital formation. 15 

U.S.C. 78c(f). 

18 17 CFR 200.30–3(a)(12). 

1Eagle Capital Appreciation Fund, et al., 

Investment Company Act Rel. Nos. 31239 (Sep. 3, 

2014) (notice) and 31269 (Sep. 29, 2014) (order). 

2Applicants request relief with respect to the 

named Applicants, as well as to any future Fund 

and any other existing or future registered open-end 

management investment company or series thereof 

that intends to rely on the requested order in the 

future and that: (i) Is advised by the Adviser; (ii) 

uses the multi- manager structure described in the 

application; and (iii) complies with the terms and 

conditions of the application (each, together with 

any Fund that currently uses the multi-manager 

structure described in the application, a 

‘‘Subadvised Fund’’). The 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. 

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

limited to an entity resulting from a reorganization 

into another jurisdiction or a change in the type of 

business organization. 

3A ‘‘Subadviser’’ for a Fund is (1) an indirect or 

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

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

company of the Adviser that is an indirect or direct 

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

defined in the Act) of the same company that, 

indirectly or directly, wholly owns the Adviser 

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

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 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 (each 

a ‘‘Non-Affiliated Subadviser’’ and collectively, the 

‘‘Non-Affiliated Subadvisers’’). 

prompt and accurate clearance of and 

settlement of securities transactions and 

derivative agreements, contracts and 

transactions cleared by ICC, the 

safeguarding of securities and funds in 

the custody or control of ICC, and the 

protection of investors and the public 

interest, within the meaning of Section 

17A(b)(3)(F) of the Act.14

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the proposal is 

consistent with the requirements of the 

Act and in particular with the 

requirements of Section 17A of the 

Act 15 and the rules and regulations 

thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,16 that the 

proposed rule change (File No. SR–ICC– 

2017–009) be, and hereby is, 

approved.17

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–20204 Filed 9–21–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

32802A; 812–14777–01] 

Eagle Series Trust, et al. 

September 18, 2017. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Corrected notice to amend file 

number (see Eagle Series Trust, et al. 

IC–32802) (Aug. 31, 2017). 

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 and rule 18f–2 

under 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, and Sections 6–07(2)(a), (b), and 

(c) of Regulation S–X (‘‘Disclosure 

Requirements’’). The requested 

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. The 

requested order would supersede a prior 

order.1

Applicants: 

Eagle Capital Appreciation Fund, 

Eagle Growth & Income Fund and Eagle 

Series Trust (each, a ‘‘Trust’’ and 

collectively, the ‘‘Trusts’’), each a 

Massachusetts business trust registered 

under the Act as an open-end 

management investment company with 

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

Carillon Tower Advisers, Inc. (the 

‘‘Initial Adviser’’), a Florida corporation 

registered as an investment adviser 

under the Investment Advisers Act of 

1940 (collectively with the Trusts, the 

‘‘Applicants’’). 

Filing Dates: 

The application was filed May 17, 

2017, and amended on August 22, 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 October 13, 2017, 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: Susan L. Walzer, Carillon 

Tower Advisers, Inc., 880 Carillon 

Parkway, St. Petersburg, FL 33716 and 

Kathy Kresch Ingber, K&L Gates LLP, 

1601 K Street NW., Washington, DC 

20006–1600. 

FOR FURTHER INFORMATION CONTACT: 

Laura L. Solomon, Senior Counsel, at 

(202) 551–6915, or David Marcinkus, 

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 

Web site 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 serves as the 

investment adviser to each Fund 

pursuant to an investment advisory 

agreement with the Fund (the 

‘‘Investment Advisory Agreement’’).2

The Adviser provides the Funds with 

continuous and comprehensive 

investment management services subject 

to the supervision of, and policies 

established by, each Trust’s board of 

Trustees (‘‘Board’’). The Investment 

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.3 The 

primary responsibility for managing the 

Subadvised 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